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Raplee v. Piper

Court of Appeals of New York
143 N.E.2d 919 (1957)


Facts

Raplee (plaintiff) entered into a contract to purchase real property from Piper (defendant). The contract required Raplee to maintain and pay the premiums of a casualty insurance policy in Piper’s name. After execution of the contract, Raplee took possession of the property. While Raplee was in possession, a fire destroyed a building on the property. Piper received part of the remaining balance of the purchase price as insurance proceeds. Raplee paid Piper the difference between the insurance proceeds and the remaining balance. Piper refused to apply the insurance proceeds toward the remaining balance. Raplee filed suit and the trial court held that Piper should credit the insurance proceeds toward Raplee’s remaining balance on the purchase price. Piper appealed.

Rule of Law

Issue

Holding and Reasoning (Desmond, J.)

Dissent (Burke, J.)

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