MAURICE v. GOLDSBROUGH, MORT & CO., LTD.

(1939) 64 Ll L Rep 1

JUDICIAL COMMITTEEOF THE PRIVY COUNCIL.

Before Lord Atkin, Lord Russell of Killowen, Lord Macmillan, Lord Wright and Lord Romer.

Fire insurance-Loss of profits, commission, etc. - Warehousemen - Consignment of wool sent to wool brokers which they were to receive into store, pay carriage arising therefrom, prepare for sale, and sell on commission-Obligation upon brokers to insure-Insurance of wool by brokers, policy covering "Merchandise the assured's own property or held by them in trust or on commission for which they may be liable in the event of loss or damage by fire" while lying in brokers' store -Insured value "not including profit of any kind"-Loss by fire-Amounts collected on policies by brokers, based on gross selling value-Claim by brokers to deduct sums for prospective commission lost by reason of the fire, and charges which would have been made in preparing wool for sale-Insurable interest of wool brokers.