ARTICLE 4. Insurable Interest: Generally [280. - 287.]

Article 4 enacted by Stats. 1935, Ch. 145.

§§ 280–287 · 8 sections

• § 280 If the insured has no insurable interest, the contract is void.
• § 281 Every interest in property, or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the…
• § 282 An insurable interest in property may consist in: 1. An existing interest; 2. An inchoate interest founded on an existing interest; or, 3. An expectancy,…
• § 283 A mere contingent or expectant interest in anything, not founded on an actual right to the thing, nor upon any valid contract for it, is not insurable.
• § 284 Except in the case of a property held by the insured as a carrier or depositary, the measure of an insurable interest in property is the extent to which the…
• § 285 A carrier or depositary of any kind has an insurable interest in a thing held by him as such, to the extent of its value.
• § 286 An interest in property insured must exist when the insurance takes effect, and when the loss occurs, but need not exist in the meantime; an interest in the…
• § 287 Every stipulation in a policy of insurance for the payment of loss whether the person insured has or has not any interest in the property insured, or that the…