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eBook details

• Title: Copelin v. Insurance Company
• Author : United States Supreme Court
• Release Date : January 01, 1869
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 59 KB

Description

Mr. J. O. Broadheal, for the Company, plaintiff in error: If there was no right to abandon as for a total loss, and no acceptance of abandonment, the question becomes simply one of damages under the policy. The vessel, when tendered to the owner, was worth $12,000. It would have taken $5000 to put her in complete repair,–that is to say, to make her as good as she was before she received an injury. This would make $17,000. But the underwriters paid $12,150.62, the expense of raising and repairing the vessel; and if they are now, by the judgment of the court, required to pay, in addition, the amount of the policy, $5000, with interest, they pay over $17,000 to the owner; in other words, they pay more than a total loss; so that, although there was no right to abandon, and no abandonment accepted, and no total loss, the insurer is held liable for a total loss.

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