PRINCE v. ROYAL INDEM. CO.

No. 76-1061.

541 F.2d 646 (1976)

W. Wood PRINCE and James F. Donovan, as Trustees of the Central Manufacturing District, Plaintiffs-Appellants, v. ROYAL INDEMNITY COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided September 2, 1976.

Rehearing Denied September 22, 1976.


Attorney(s) appearing for the Case

George B. Christensen, Gerard E. Grashorn, Chicago, Ill., for plaintiffs-appellants.

James T. Ferrini, John P. Gorman, Chicago, Ill., for defendant-appellee.

Before CUMMINGS, TONE and WOOD, Circuit Judges.


TONE, Circuit Judge.

This is a diversity action on a fire insurance policy containing the usual provision that assignment of the policy requires the insurer's consent. The issue is whether under Illinois law the insured had an insurable interest which entitled him to recover for a fire loss after selling the insured property, assigning the policy, and undertaking to forward the assignment to the insurer for acceptance but failing to do so. When the buildings covered...

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