Hayes v. U.S. Fire Ins. Co.
| Decision Date | 26 May 1903 |
| Citation | 44 S.E. 404,132 N.C. 702 |
| Parties | HAYES et al. v. UNITED STATES FIRE INS. CO. |
| Court | North Carolina Supreme Court |
Appeal from Superior Court, Guilford County; McNeill, Judge.
Action by W. A. Hayes and another against the United States Fire Insurance Company. From a judgment in favor of defendant plaintiffs appeal. Affirmed.
Where after the loss under a policy, and on investigation, the insured signed a stipulation that such investigation should not waive or invalidate any conditions of the policy, or any rights whatever of either of the parties, and should not be taken as an acknowledgment of liability on the part of the insurer, such investigation did not operate as a waiver of the breach of a condition of the policy relieving insurer from liability.
John A Barringer, for appellants.
Chas. M. Stedman, for appellee.
On 16th October, 1900, the male plaintiff insured his barn and contents for one year in the sum of $700. In the application it was stated that the title to the property was unincumbered, and it was stipulated in the policy that "the entire policy should be void if the insured has concealed or misrepresented in writing or otherwise, any material fact or circumstance concerning this insurance or the subject thereof, or if the interest of the insured in the property be not truly stated herein," or "be other than the unconditional and sole ownership," or "if, with the knowledge of the insured, foreclosure proceedings be commenced or notice given of sale of any property covered by this policy by virtue of any mortgage or trust deed," etc. It appeared from the evidence offered by the plaintiffs that the plaintiffs had on 1st August, 1899, taken a conveyance of the tract of land on which the barn stood, to themselves jointly, for the recited consideration of $4,500, and on the same day had executed a mortgage to the vendor to secure said sum of $4,500, payable in nine installments of $500, with interest, and that on 25th October, 1900 (nine days after the policy was taken out), the property was advertised for sale, under a power of sale in the mortgage, when only one installment of $500 had been paid, and it was sold 3d December, 1900. In the meantime the fire occurred, on 1st December. After the fire the male plaintiff indorsed on the policy an assignment of his interest therein to his wife, the other plaintiff herein.
The male plaintiff...
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