Raplee v. Piper

3 N.Y.2d 179, 164 N.Y.S.2d 732, 143 N.E.2d 919, 64 A.L.R.2d 1397 (1957)

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Nature of the Case

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Facts

Raplee, buyer (P), was in possession of the property under contract at the time it was destroyed by fire. The parties' contract required that P maintain insurance on the property, with Piper, seller (D), as loss payee, while the contract was pending. After the fire, the insurance company indemnified D for the loss. P demanded that the amount be applied to the purchase price of the property, and D refused.