Richard S. Waring, Respondents v. the Indemnity Fire Insurance Company, Appellant

Summary

The New York Court of Appeals affirmed the lower court, holding that a fire insurance policy containing the phrase “sold but not removed” covers goods that have been sold and title transferred but remain in the seller’s warehouse, and that the insurer’s liability follows the property to successive owners even when they are not named in the policy. The plaintiffs, commission merchants, may sue in their own name for the benefit of the purchasers.