Anonymous
Published: 2013-09
Total Pages: 322
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 edition. Excerpt: ... being valid, in a state where there is no valued policy law substantially like ours. We do not think the statute of Massachusetts, which is claimed to be like ours, is so substantially, and for that reason we do not regard this authority as controlling in this case. We have found one case, New Orleans Real Estate Mortgage 62 Securities Company v. Teutonia Insurance Company of New Orleans, to be found in 54 South. 466, which does squarely hold, on a valued policy law substantially like ours, though not identical in its phraseology, that the very clause here relied on, to-wit, for loss occasioned by ordinance or law regulating construction or repair of buildings, is written out of the policy by the valued policy law of Louisiana. While the court does say, in its original opinion, that it did not wish to be understood as holding that the exemption from the liability clause in question was not inconsistent with the valued policy law of Louisiana, and that it expressed no opinion on that point, we do not well see how the judg ' ment in the case could have been what it was, without holding that it was so inconsistent; and, indeed, this is made clear in the judgment rendered by the court on rehearing, in which, at the foot of page 469, the court does meet the issue squarely, and expressly holds that the valued policy law did write the exemption clause out of the policy, and that the statute so writing it out was one affecting the public 'policy of the state. After the maturest thought we can give the matter, we are constrained to follow this decision of the supreme court of Louisiapa, and hold that the clause of exemption Brief for appellant. 99 Miss. from liability, relied on in the policy before us, was written out by our valued policy law...