INSURANCE - SUBROGATION OF INSURER TO INSURED'S CLAIM AGAINST A QUASI-SURETY

Authors

Abstract

A, a loan broker, by forging the name of the plaintiff's attorney to a certificate of title, secured title insurance from the plaintiff guaranteeing the X loan association against loss by reason of defect in the mortgagor's title. The mortgagor was a non-existent person whose name A had forged to the note and mortgage. X drew a check on the defendant bank payable to the mortgagor, turning it over to A for delivery. A forged the mortgagor's name and collected from the defendant bank. Upon paying the X loan association on the insurance policy, the plaintiff sought to be subrogated to the loan association's rights against the defendant bank. Held, plaintiff was not entitled to subrogation. New York Title & Mortgage Co. v. First National Bank of Kansas City (C. C. A. 1931) 51 F.(2d) 485.

Recommended Citation

INSURANCE - SUBROGATION OF INSURER TO INSURED'S CLAIM AGAINST A QUASI-SURETY, 30 Mich. L. Rev. 800 (1932).
Available at: https://repository.law.umich.edu/mlr/vol30/iss5/20