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Estimable Credit Company Loans Funds to Farmland Granaries LLC to Buy

Question 62

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Estimable Credit Company loans funds to Farmland Granaries LLC to buy a silo. Estimable obtains an insurance policy from Grangers Insurance Inc. to cover the silo. Farmland also obtains a policy from Grangers to cover the silo. Later, Farmland sells the silo to Hi-Yield Harvest Company but keeps the policy. Hi-Yield also obtains a policy from Grangers to cover the silo. Estimable agrees to finance Hi-Yield's purchase of the property. A fire totally destroys the silo. Who can recover for the loss?

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Estimable has an insurable interest in t...

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