[Download] "Mcintosh Et Al. v. Hartford Fire Ins. Co." by Supreme Court of Montana # Book PDF Kindle ePub Free
eBook details
- Title: Mcintosh Et Al. v. Hartford Fire Ins. Co.
- Author : Supreme Court of Montana
- Release Date : January 06, 1938
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
Fire Insurance ? Destruction of Part of Insured Property ? Arbitration and Award ? How Awards to be Viewed by Courts ? Award Held Erroneous Under Facts. Arbitration and Award ? Law Favors Settlement of Disputes by Arbitration. 1. The law favors the settlement of disputes by arbitration, and every reasonable intendment will be indulged to give effect to arbitration proceedings. Same ? Action on Fire Insurance Policy ? When Only Award of Arbitrators to be Interfered With by Courts. 2. An award made by appraisers or arbitrators should not be set aside unless made without authority, or the result of fraud or mistake, or of misfeasance or malfeasance of the appraisers; courts should never interfere with an award in a fire insurance case except to prevent a manifest injustice. Fire Insurance ? Award of Arbitrators Questioned ? What Court may Consider Even Though Award Apparently Fair. 3. Where an award of arbitrators in a fire insurance case is questioned, courts may consider the method by which the appraisers reached their decision even though the award may be fair on its face. Same ? Statute Relating to Measure of Indemnity ? When Part of Policy. 4. The provision of section 8157, Revised Codes, that if there is no valuation in a fire insurance policy, the measure of indemnity is the expense, at the time the loss is payable, of replacing the thing lost or injured, in the condition in which it was at the time of the injury, is as much a part of the policy as though written into it. - Page 435 Same ? Property Partly Destroyed ? Award of Arbitrators Held Erroneous ? Case at Bar. 5. A business block valued at $50,000 when it was new, was insured under a standard form of policy for $26,500. It was partially destroyed by fire. The owner not being able to agree with the insurer on the loss sustained, the matter was submitted to appraisers under a provision in the policy. They depreciated the value of the property because of age 48 per cent., found its value at the time of the fire to have been $26,200, and determined the cost of repairing it at $13,392; they then depreciated such latter sum 48 per cent. and fixed the liability of the insurer at $7,000. Held, in an action to set aside the award of the appraisers approved by the district court, that in view of the provision of the policy containing no valuation (sec. 8157, Rev. Codes), wherein the insurer agreed to indemnify insured to the extent of either restoring the part of the building destroyed to the condition it was in at the time of the fire, using new materials where necessary, or pay to him a sum equal to the cost of restoration, the insurer was entitled to judgment for the amount found by the appraisers as the cost of repairing the building, and that the deduction of 48 per cent. from such amount for deterioration was unwarranted.