31 N.Y.S. 237 | N.Y. Sup. Ct. | 1894
The defendant, by its policy of insurance dated March 31, 1892, insured Davis Bros., to an amount not exceeding $1,000, on their stock of merchandise contained in their store at Malone, N. Y., for the period of one year. On the 18th of June, 1892, Davis Bros, executed a chattel mortgage on the property insured to one Henrietta Briggs, to secure the payment of $500. The policy provided that “this entire policy shall be void if the subject of insurance be personal property, and be or become incumbered by a chattel mortgage.” It requires no citation of authorities to show that, on the execution of the chattel mortgage in question, the policy under which plaintiff seeks to recover in this case at once became void. Being void, it could not subsequently acquire validity, so as to cover merchandise thereafter placed in the store of Davis Bros. On the execution of the mortgage the policy, by its terms, ceased, and could not thereafter have any force, unless revived by some act or by consent of the defendant. Mead v. Insurance Co., 7 N. Y. 530.
We conclude that the trial judge properly nonsuited the plaintiff, and hence that the judgment should be affirmed, with costs. All concur.