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VERMONT INV. CAPITAL, INC. v. GRANITE MUT. INS.

Civ. A. No. 88-152.

705 F.Supp. 1019 (1989)

VERMONT INVESTMENT CAPITAL, INC., (SBA, Receiver) v. GRANITE MUTUAL INS. CO.

United States District Court, D. Vermont.

February 8, 1989.

Attorney(s) appearing for the Case

Patti R. Page, McNeil, Murray & Sorrell, Burlington, Vt., for plaintiff.

Robert V. Simpson, Jr., Richard Davis Associates, Barre, Vt., for defendant.

OPINION AND ORDER

BILLINGS, Chief Judge.

On April 1, 1986, Joseph Flanagan telephoned the Bouffard Insurance Agency in St. Johnsbury, Vermont to obtain a fire insurance policy covering premises in Lunenberg, Vermont. Flanagan was to purchase the property from Vermont Investment Capital ("VIC") the next day. Pursuant to a purchase and sale agreement between the parties, VIC was to obtain a purchase money mortgage...

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