Feed C. Eddy, as Receiver v. London Assurance Corporation, Appellant, and Giles Everson, Respondent

Summary

The New York Court of Appeals affirmed the lower courts, holding that the mortgagee clause in the fire insurance policy protected the mortgagee's right to recover despite foreclosure and that the contribution provision could not diminish the insurer's liability because the mortgagee's insurance was a separate contract not affected by the owner's procurement of other insurance.