St. Landry Wholesale Mercantile Co. v. New Hampshire Fire Ins.

Citations

• 114 La. 146
• 38 So. 87
• 1905 La. LEXIS 432

Syllabus

<p>INSURANCE — WARRANTIES IN POLICY — IRON-SAFE CLAUSE — BREACH—INDIVISIBLE CONTRACT.</p> <p>1. Where a promise in a policy of insurance is declared to be a warranty, the only concern of' the courts, in the absence of a contrary statutory enactment, is to ascertain whether or not it has been complied-with.</p> <p>2. A warranty, to the effect that the assured will keep a set of books, and within a certain time make an inventory of his stock, and that he will preserve the books and inventory in an iron safe, or in a safe place, and produce both books and inventory in the event of a loss by fire, is not complied with where the inventory is not taken within the time specified, and is not preserved or produced, though it be alleged, after the loss has occurred, that an inventory approximately correct may be made from the books.</p> <p>3. Where a policy is issued for a gross amount in consideration of a single premium, paid or to be paid, for the whole, though part of the amount is placed on a building and part on a stock of merchandise therein contained, and by its terms becomes void, whether by reason of a breach of the promise to make, preserve, and produce an inventory of the merchandise or by reason of a breach of the condition as to the ownership of the ground upon which the insured building stands, the contract is indivisible, and, though there be but one such breach, there can be no recovery.</p> <p>(Syllabus by the Court.)</p>