Swenson v. Sun Fire Office

Citations

• 68 Tex. 461
• 5 S.W. 60
• 1887 Tex. LEXIS 718

Syllabus

<p>1. Insurance.—A transfer of a policy of insurance as collateral security to one who already holds a mortgage on the insured premises, though made with the consent of the insurer, if there be no agreement on the part of the mortgagee to pay the premiums on the policy, or to perform any of the obligations originally assumed by the insured, or other consideration, will not prevent the policy from becoming void by a subsequent sale of the property made by the mortgagor without consent of the insurer, when, by the terms of the policy, it was to become void if such sale be made without such consent.</p> <p>2. Cases Distinguished. —This ease distinguished from the authorities referred to, in May on Insurance, as supporting the doctrine announced in section 276 of that work, and Hale v. Insurance Company, 6 Gray, 169 approved.</p> <p>3. Assignment of Policy of Insurance.—By an assignment of a policy of insurance, with the consent of the insurer, the company is not regarded as yielding any of its rights as to the performance by the assured of all the conditions of the policy, and any violation by the assured of any of those conditions is fatal to a recovery by the assignee. The application of this principle is not aSeeted by articles 266, 267, of the Revised Statutes.</p>