Supreme Court of North Carolina April 17, 1929 (Wayne National Bank v. National Bank of LaGrange)

Adams, J.

The defendant makes the point that it has an equitable claim to the insurance fund, to the extent of the indebtedness due it, by reason of the provision in its mortgage that the mortgagor would insure the buildings for its benefit; and to support this position the defendant cites

Wheeler v. Factors’ and Traders’ Insurance Co.,

101 U. S. (11 Otto), 439, 25 L. Ed., 1055.