Goodfriend v. American Credit Indemnity Co. — 244 N.Y. 546

Majority

p. 546

Meter Goodfriend et al., Copartners under the Firm Name of Goodfriend Bros., Appellants, v. American Credit Indemnity Company of New York, Respondent.

Headnote

Insurance (credit) —■ contract — action to recover upon policy of credit insurance — claim for amount paid to redeem merchandise from insolvent purchaser.

Goodfriend v. American Credit Indemnity Co., 217 App. Div. 635 , affirmed.

(Argued December 1, 1926;

decided December 31, 1926.)

Appeal from a judgment, entered July 13, 1926, upon an order of the Appellate Division of the Supreme Court in the first judicial department, reversing a judgment in favor of plaintiff entered upon a decision of the court at a Trial Term without a jury, and directing a dismissal of the complaint. The action was to recover upon a

p. 547

policy of credit insurance against losses from sales of merchandise due to insolvency of purchasers, an amount paid by the insured to redeem certain merchandise from an insolvent purchaser. The Appellate Division held that the claim was not within the purview of the policy.

Edward S. Greeribaum, Edgar J. Nathan and Jonas J. Shapiro for appellants.

Walter J. Bosston and Edwin Hort for respondent.

Judgment affirmed, with costs; no opinion. ,

Concur: His cock, Ch. J., Cardozo, Pound, McLaughlin, Crane, Andrews and Lehman, JJ.