Darmour Productions Corp. v. Insurance Co. of North America

Defendant has demurred to the second amended complaint of the plaintiff. The action is to recover upon a policy of insurance issued to cover film negatives which the plaintiff was engaged in making. The risk assumed was to cover generally all damage to or loss of negatives of the plaintiff to an amount not exceeding $525,000.00. The policy contained the following terms:

“(3) This policy is to be deemed continuous and to cover and attach on all negatives produced by the assured on which production is commenced (as defined in this policy) on and after May 27, 1929.

“(4) This insurance to attach and cover as to any one negative insured hereunder from the time the film is first exposed at the commencement of the picture and to cover continuously thereafter at all times in all places in the United States and Canada until the full quota of positive prints or films previously contracted for have been made from the negative hereby insured or until the interest of the assured has ceased, whichever may first occur, but in no event after the terminating date, of the insurance on such nega *791 tive, as shown in the declaration of risk to be made hereunder.

“(5) It is warranted by the…