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Insurance - Recovery - Extent Under Interest Limitation Clause Of The Standard Fire Insurance Policy, Roger W. Kapp
Insurance - Recovery - Extent Under Interest Limitation Clause Of The Standard Fire Insurance Policy, Roger W. Kapp
Michigan Law Review
Plaintiff leased vacant land and erected a building thereon. At the election of the lessor the lease could be terminated upon thirty days' notice, plaintiff having the right to remove the building. Defendant issued to plaintiff a policy insuring the building against loss by fire to the extent of the cash value of the property at the time of loss, but not exceeding the repair or replacement cost, "nor in any event for more than the interest of the insured." The building was destroyed by fire and plaintiff sued to recover the full amount of the insurance. The trial court …