Sherman v. Fair

Citations

• 29 S.C.L. 647

Syllabus

<p>I. A mortgaged to B two houses and lots. Out of A’s funds B had them insured. Afterwards, under a decree of foreclosure of the mortgage, one of the houses and lots was sold, and purchased by C. On the back of the policy, with B’s consent, the agent of the insurance company consented that so much of the policy as related to the house and lot purchased by G, should be transferred to him. After the sale under the mortgage, C, by the acceptance of the underwriters, by their agent, became one of the insured, and was held liable to pay back to A so much of the premium paid by him as applied to the house purchased by C, and as covered the time the policy still had to run. No formal assignment, either by A or B, was essential.</p>