National Insurance v. Webster

Citations

• 83 Ill. 470

Syllabus

<p>1. Admission—effect of, to prevent a continuance. An admission, made to prevent a continuance, in an action upon a policy of insurance, that certain papers showed a bill of sale from the assured, absolute on its face, made after the policy and before loss, is not an admission of a sale of the property insured, and does not preclude the party from showing the transaction was, in fact, only a mortgage.</p> <p>2. Mortgage—bill of sale absolute in form. A bill of sale of a vessel, like a deed absolute on its face, may be shown, by parol, to be, in fact, a mortgage, only, or a mere security for a debt.</p> <p>3. Marine insurance—negligence, to release insurer. If a loss of a vessel is incurred, by a peril insured against, the insurer is liable, although the remote cause be the negligence of the officers and crew. If the negligence is so gross as to authorize the presumption of fraud, the insurer may not be liable.</p>