QUASI-CONTRACTS-RECOVERY OF INSURANCE PAID UNDER MISTAKE OF FACT

Authors

Abstract

The plaintiff insured articles of Jewelry for the defendant against loss. Defendant was unable to find a necklace covered by the policy in question and after an unsuccessful search the parties entered into an agreement whereby the defendant consented to accept other jewelry, equal in value to the necklace, as compensation for the loss. Later the necklace was found, and the plaintiff seeks rescission of the agreement and specific restitution of the articles delivered pursuant thereto. Held, payment made in settlement of an insurance claim may not be rescinded on the basis of mistake of fact as to the loss or destruction of the subject of the insurance; but plaintiff can recover the "lost" necklace. Holmes v. Payne, [1930] 2 K. B. 301.

Recommended Citation

QUASI-CONTRACTS-RECOVERY OF INSURANCE PAID UNDER MISTAKE OF FACT, 29 Mich. L. Rev. 644 (1931).
Available at: https://repository.law.umich.edu/mlr/vol29/iss5/33