ACE WIRE v. AETNA CAS & SUR


60 N.Y.2d 390 (1983)

Ace Wire & Cable Co., Inc., et al., Respondents, v. Aetna Casualty & Surety Company, Appellant.

Court of Appeals of the State of New York.

Decided December 1, 1983.


Attorney(s) appearing for the Case

Michael A. Maillet and Jerome Murray for appellant.

Leonard M. Simon and Jeffrey M. Schwartz for respondents.

Chief Judge COOKE and Judges JASEN and JONES concur with Judge MEYER; Judge WACHTLER dissents and votes to reverse in a separate opinion in which Judges SIMONS and KAYE concur.


MEYER, J.

The comparison of inventory records kept on a unit basis with a physical count of items on hand is not an "inventory computation" within the meaning of the exclusion in section 2(b) of a comprehensive dishonesty, disappearance and destruction policy of insurance. Moreover, because section 4 of the policy requires only evidence which "reasonably proves" employee dishonesty, the insurer is not entitled...

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