John Alston, Alexander Elliot, William Colquhoun, and Others v Messrs Colin Campbell and Co, Merchants In Greenock, and John M’Allister: HL 3 Mar 1779

A party sold a vessel to his creditor, under a vendition ex facie absolute, but, as shewn by the correspondence, was intended as a security for his debt. He thereafter insured the vessel. Held, on her loss, that he had still an insurable interest,-the sale being merely in security.

Citations:

[1779] UKHL 2 – Paton – 492

Links:

Bailii

Jurisdiction:

Scotland

Transport

Updated: 08 September 2022; Ref: scu.562033