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INS. CO. OF NORTH AMERICA v. UNIV. MTG. CORP.

No. 75-821.

82 Wis.2d 170 (1978)

262 N.W.2d 92

INSURANCE COMPANY OF NORTH AMERICA, Respondent, v. UNIVERSAL MORTGAGE CORPORATION OF WISCONSIN, Appellant.

Supreme Court of Wisconsin.

Decided February 7, 1978.

Attorney(s) appearing for the Case

For the appellant there were briefs by Ralph J. Ehlinger, Diane S. Diel and Hoyt, Greene & Meissner, S.C. of Milwaukee, and oral argument by Diane S. Diel.

For the respondent there was a brief by Howard B. Mitz and Belongia & Mitz, Associates of Milwaukee, and oral argument by Howard B. Mitz.

HEFFERNAN, J.

The issue presented is whether the plaintiff insurance company has stated a claim upon which relief can be granted against its insured for the recoupment of a payment previously made to its insured when the insured, after the issuance of the insurance policy, but before the physical loss of the property for which the indemnity had been paid, had executed a lease agreement with its landlord which exculpated...

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