Case Problem:
Grimberg sold a famous painting to Cohen for $785,000. Possession of the painting passed to Cohen but payment was never made. Despite various and sundry attempts to resolve the issue, Grimberg never received payment or got the painting back. Cohen was subsequently convicted of fraud. Grimberg filed an insurance claim with his insurance company, which denied payment because, it claimed, Grimberg had transferred title to Cohen. Grimberg claimed that he transferred a voidable title and thus still retained an insurable interest in the painting. Who won? [ Zurich American Insurance Co., Subscribing to Policy Number IM 8338602, Certifi cate Number D279FL, Plaintiff-Counter-Defendant-Appellee, v. Felipe Grimberg Fine Art, Fine Arts Services, Inc., Doing Business as Felipe Grimberg Fine Art, Felipe Grimberg, John Does, A-Z, Defendants-Counter-Claimants- Appellants, 08-1300-cv, 2d Cir. Ct. of Appeals, 324 Fed. Appx. 117; 2009 U.S. App. LEXIS 9937; 68 U.C.C. Rep. Serv. 2d (Callaghan) 690, May 7, 2009.]
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.