183 Wis. 407 | Wis. | 1924
Appellant claims, first, that the company had notice of the giving of the chattel mortgage, and, second, that the policy was divisible and the placing of the chattel mortgage only voided the policy as to those items covered by the chattel mortgage, if it voided any part thereof. There
The next question is whether the policy is divisible so that an incumbrance upon a portion of the insured property does not void the policy as to the unincumbered property. The rule is that, “although the insurance is distributed to the different items of insured property, the contract is indivisible if the breach of the contract as to an item of the property affects, or may reasonably be supposed to affect, the other items, by increasing the risk thereon.” Loomis v. Rockford Ins. Co. 77 Wis. 87, 45 N. W. 813; Worachek v. New Denmark Mut. H. F. Ins. Co. 102 Wis. 88, 78 N. W.
Sec. 1932, Stats., relating to town mutual insurance companies, authorizes the board of directors to- issue policies of insurance agreeing to' pay loss or damage occasioned by fire, “and providing for such conditions of insurance as may be determined by the by-laws of such corporation or by the resolutions of its annual meeting.” Upon the back of the policy introduced in evidence appeared what purported to be the by-laws of the defendant. Such by-laws contained no provision authorizing the insertion of the chattel-mortgage clause here under consideration. The question occurred whether the defendant was authorized to insert such
After giving this case our most careful, consideration we are unable to discover any escape from the judgment of the court below, and it must be affirmed.
By the Court. — So ordered.