Shoenfeld v. Fleisher

Citations

• 73 Ill. 404

Syllabus

<p>1. Factors—rights and, duty as to insurance. Factors having the goods of their principals in their possession may insure them, but they are not-bound to do so, unless they have received orders to insure, or promise to insure, or the usage of trade or the habit of dealing between them and tlieir principal raises an obligation to insure.</p> <p>3. If a factor, who is in any case required to insure the goods of his principal, fails to do so, lie becomes the insurer himself, and liable as such in the event of loss, and is entitled to credit for the premium which should have been paid.</p>