Supreme Court of Iowa May 19, 1897 (Houdeck v. Merchants & Bankers Insurance)

Deemer, J.

1 The issuance of the policy, the destruction of the property insured by fire, and the performance of all the conditions precedent to plaintiffs’ right to recover, are admitted. It is also admitted that after the execution of the policy the assured placed two mortgages upon the property, for the sums of three hundred dollars and four hundred and sixty-five dollars, respectively.