[DOWNLOAD] "Gorman v. Farm Bureau Town & County Insurance Company" by Missouri Court of Appeals Western District * Book PDF Kindle ePub Free

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eBook details

• Title: Gorman v. Farm Bureau Town & County Insurance Company
• Author : Missouri Court of Appeals Western District
• Release Date : January 20, 1998
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 65 KB

Description

Appeal From: Circuit Court of Jackson County, Hon. David W. Shinn REVERSED AND REMANDED. Opinion Farm Bureau Town & Country Insurance Company of Missouri appeals the summary judgment of the circuit court for Marion and Doris Gorman, respondents, for $35,000 on their claim for payment of policy limits in that amount under a policy of insurance purchased from the appellant by them on March 14, 1992, for a loss of property by fire that occurred on September 24, 1995. The property which was destroyed was a house purchased on March 4, 1986, by a business partnership consisting of the respondents and Jay Appelson. Thereafter, on August 31, 1995, the respondents quitclaimed their interest in the property to Appelson in exchange for a promissory note for $7,400, secured by a deed of trust on the property. Summary judgment was granted to the respondents on the basis that, although at the time of their loss they no longer had an ownership interest in the insured property, they had an insurable interest and were entitled to policy limits pursuant to the ""valued policy statute,"" Section 379.140, 1 which estops an insurer from denying that the value of the property at the time of loss was less than the coverage purchased.

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