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CALVERT FIRE INS. v. CARPET MART OF TEXARKANA

No. 78-331.

587 S.W.2d 1 (1979)

CALVERT FIRE INSURANCE COMPANY, Appellant, v. CARPET MART OF TEXARKANA, INC. and Thomas D. Standley, Jr., Appellees.

Supreme Court of Arkansas, In Banc.

Rehearing Denied October 15, 1979.

Attorney(s) appearing for the Case

Nolan, Alderson & Vickery, El Dorado, for appellant.

Kent J. Rubens, West Memphis, for appellees.

PURTLE, Justice.

This case involves entitlement to the proceeds of a fire insurance policy issued on an aircraft which was subsequently destroyed by fire. The seller, who held the title to the aircraft, the purchaser-owner and a lienholder each claimed part or all of the proceeds of the policy. Payment was made to the titleholder and the named lienholder after the purchaser refused to endorse a draft made to all three. The titleholder filed suit pursuant to the sales...

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