Michigan Supreme Court September 4, 1963, Calendar 22, Docket 50,197 (Guerdon Industries, Inc. v. Fidelity & Casualty Co. of New York)

Smith, J.

By stipulation of tbe. parties, tbe case was submitted on the following agreed statement of facts:

“On April 1, 1960, plaintiff, Guerdon Industries, purchased from defendant, Fidelity & Casualty Company of New York, a comprehensive general and automobile liability policy and paid to the defendant' $19,866 as the premium on this policy.