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What is Insurable Interest in Fire Insurance Case about?

1) Insurance Co. of North America filed a complaint against Gaisano Cagayan, Inc. alleging that two companies, IMC and LSPI, filed insurance claims for unpaid book debts owed by Gaisano after a fire destroyed goods sold to Gaisano by IMC and LSPI. 2) The RTC dismissed the complaint finding that IMC and LSPI retained ownership of the goods, but the CA reversed finding that ownership and risk transferred to Gaisano upon delivery. 3) The Supreme Court affirmed the CA

Author

Camil Ram Ferrer

Language

EN