Cases argued and decided in the Supreme Court of the State of Texas, during the latter part of the Austin term, 1884, and the Tyler term, 1884. Volume 62. Page: 464
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464 FIRST NATIONAL BANK V. LANCASHIRE INS. CO. [Tyler Term,
Opinion of the court.
It must also be at the place specified in the entry, whicli by the
terms of the contract was to be made in the book accompanying
the policy.
It is easy to see why the plaintiff, in its pleadings, did not rest
content with the allegation that the property destroyed was its
own, or was held by it in trust. In either case the petition would
have been good upon demurrer, because it would have stated a case
which came fully within the terms of the policy.
But as the proof might not have sustained such allegations, it
was necessary to set out the real condition of the property which
was destroyed and for the loss of which the plaintiff sought a
recovery.
And thus it appears that the property destroyed did not belong
to the plaintiff and was not held by it in any of the capacities mentioned
in the policy.
It belonged to one King. He had bought it with funds advanced
by the plaintiff, upon an agreement that when it was sold he was to
return the money.
'This was a personal trust reposed by the plaintiff in King. There
seems to have been a further agreement between them, that if the
cotton was shipped the bills of lading should be taken in the name
of or be transfered to the plaintiff.
In the event of a shipment, the bills of lading, being taken in the
name of the plaintiff or transferred to it, would have passed to it the
legal title. Still the property would not then have been covered
,by the policy, because it would have been thus removed from the
place, and the only place, at which the risk would attach.
The language of the policy is plain and unambiguous. There is
Dno room for construction; and the defendant has a right to insist
,upon the letter of the contract as it was made.
Innumerable authorities might be cited to sustain this elementary
rule; and we refer to one only to show how strictly the courts have
enforced it in insurance cases.
" The policy," says Wood in his work on insurance, " must be construed
according to its terms and the evident intent of the parties,
to be gathered from the language used, and the court cannot extend
the risk beyond what is fairly within the terms of the policy."
Sec. 67, p. 157.
And he gives a an example the following case lately decided in
England:
"A time policy against fire was effected on a steamship. The
policy described it as then 'lying in the Victoria docks,' but gave
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Texas. Supreme Court. Cases argued and decided in the Supreme Court of the State of Texas, during the latter part of the Austin term, 1884, and the Tyler term, 1884. Volume 62., book, 1885; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth28512/m1/486/: accessed May 6, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .