Phenix Ins. v. Kerr

Citations

• 129 F. 723
• 66 L.R.A. 569
• 1904 U.S. App. LEXIS 4090

Syllabus

<p>1. Practice — Peremptory Instructions — Waiver of Jury.</p> <p>Where at the close of a trial to a jury each party requests a peremptory instruction in his favor, and the court grants one of the requests, that ruling constitutes a general finding for the successful party by the court, and the only questions it presents in an appellate court are. was the finding without substantial evidence to support it? and, was there error in the court’s declaration or application of the law?</p> <p>2. Insurance — Unconditional Ownership — Purchaser under Contract Has.</p> <p>The interest of a purchaser of property, which he has unqualifiedly agreed to buy and which the former owner has absolutely contracted to sell to him upon definite terms, is the sole and unconditional ownership within the true meaning of the ordinary clause upon that subject in insurance policies, because the vendor may compel the vendee to pay for the property and to suffer any loss that occurs.</p> <p>3. Same — Option to Purchase — Unconditional Ownership.</p> <p>The interest of an owner of property which another holds under his option to purchase, which is irrevocable by the owner, but which the holder of the option has not bound himself to accept, and which he is free to abandon, is the sole and unconditional ownership of the property within the proper interpretation of the clause upon that subject in insurance policies, because the owner cannot compel the holder of the option to take the property or suffer the loss.</p> <p>4. Same — Proofs of Loss — Denial of Contract — Waiver of Proofs.</p> <p>A distinct denial by an insurance company of liability under a policy after the loss, and within the time prescribed for the proofs, upon the ground that there was no contract of insurance, is a waiver of proofs of loss, because in such a case the proofs do not tend to induce the company to pay the loss, and they are futile.</p> <p>(Syllabus by the Court.)</p> <p>If 2. See Insurance, vol. 28, Cent. Dig. §§ 347,