Raulet v. Northwestern Nat'l Ins. Co. of Milwaukee

Holding

The court held that a chattel mortgage given to secure future rental payments did not constitute an "encumbrance" that voided a fire insurance policy under its standard terms, as the instrument was contingent in nature and did not increase the insurer's risk, and that the insurer had waived the precondition of premium payment by extending credit and later agreeing to deduct the amount from the claim.