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UNITED STATES FIDELITY AND GUARANTY CO. v. REAGAN

No. 666.

122 S.E.2d 774 (1961)

256 N.C. 1

UNITED STATES FIDELITY AND GUARANTY COMPANY, a corporation, v. William C. REAGAN.

Supreme Court of North Carolina.

December 13, 1961.

Attorney(s) appearing for the Case

Gwyn & Gwyn, by Julius J. Gwyn, Reidsville, for plaintiff, appellant.

Brown, Scurry, McMichael & Griffin, by Claude S. Scurry and Jule McMichael, Reidsville, for defendant, appellee.

PARKER, Justice.

It is a fixed rule of insurance law that an insurable interest on the part of the person taking out the policy is essential to the validity and enforceability of the insurance contract, whatever the subject matter of the policy, and that if no insurable interest exists, the contract is void. Trinity College v. Travelers' Ins. Co., 113 N.C. 244, 18 S.E. 175, 22 L.R.A. 291; Wharton v. Home Sec. Life Ins. Co., 206 N.C. 254, 173 S.E. 338; 29 Am.Jur.,...

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