Opinion ID: 245704
Heading Depth: 1
Heading Rank: 2

Heading: Policy Provisions and Findings

Text: 15 The policy involving the loss of goods and merchandise contained a Value Reporting Clause 4 and Full Reporting Clause. 5 The last report of value made by appellant in accordance with said contract provision was made on December 18, 1954, reporting the values of the property insured under said policy as of November 30, 1954 to be $132,000. The court found the value of the property specified in the policy as insured, on that same date of November 30, 1954, to be $346,442.66 (Finding III). The fire damage was $187,228.59 (Finding VI). The formula used by the court to determine what the insurer was obligated to pay, is found in Finding VII; 16 That by reason of the provisions of the said policy above quoted, Plaintiff, by reason of said damage by fire, became entitled to recover from Defendant not to exceed that proportion of said loss or damage as the amount reported by Plaintiff to Defendant as the actual cash value of the property insured as of November 30th, 1954, to wit: $132,000.00 bore to the actual cash value of the said property as of the date for said report, to wit: 17 $132,000.00 ___________ $346,442.66 or $346,442.66 of $187,228.59, or the sum of $71,359.76. 18 Salvage was next considered in Finding VIII, 6 and credited in accordance with the policy provisions. The net amount so found due was found to have been promptly tendered by appellee to appellant. 7 These findings are not attacked by appellant, except for the last.