Phenix Insurance v. Hilliard

Citations

• 59 Fla. 590

Syllabus

<p>1. Where by inadvertence or otherwise a policy of fire insurance is issued, contrary to the intention of the parties thereto, a court of equity may in a proper case reform the policy so as to make it express the real agreement and intention of the parties, and as so reformed to enforce the policy in order to do complete justice in the controversy.</p> <p>2. The right to the reformation of an instrument is not absolute, but depends on an equitable showing.</p> <p>3. 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>4. The just and reasonable purpose of insurance .policies in requiring the insured to have the “unconditional and sole ownership” of the property insured, is to give protection to only those upon whom the loss insured against would inevitably fall but for the insurance, and to avoid taking risks for those whose lack of interest or whose contingent interest in the property insured might tend to encourage carelessness or wrong doing in the use or preservation of the property. Wager policies are not approved and should be avoided.</p> <p>5. A conditional sale of personal property by which the vendee takes possession of the property with an unconditional promise to pay for it, but the vendor retains the title till payment in full of the purchase price is made, confers upon the vendor the absolute right of the purchase price, and imposes upon the vendee the unconditional obligation to pay the purchase price, and also easts upon the vendee all the risks of loss incident to the full and complete -ownership of the property, unless otherwise specially provided by contract.</p> <p>6. To be “unconditional and sole