Re National Benefit Assurance Co Ltd

A claim was made by the seller, with respect to the loss of goods, upon a policy of marine insurance which purported to insure goods shipped from the UK to Russia. The insurers declined payment on the ground, inter alia, that the seller did not have an interest in the goods, as he had already consigned them to a Mr. Vitouchnovsky, and thus had parted with property in the goods. The court ruled that the seller did, in fact, have an insurable interest, as the sale was not an outright sale, but conditional on the arrival of the goods.