[Download] "Gregory v. Home Insurance Co." by United States Court of Appeals for the Seventh Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Gregory v. Home Insurance Co.
- Author : United States Court of Appeals for the Seventh Circuit
- Release Date : January 12, 1989
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
FAIRCHILD, Senior Circuit Judge This is an action for declaratory judgment to determine the application of the policy limits of a Lawyers Professional Liability Insurance Policy. The action was brought against Home Insurance Company in order to implement an agreed settlement of an underlying class action.1 The relevant facts, taken largely from Judge Dillin's opinion accompanying his order granting summary judgment, are not disputed. The underlying class action arose out of a 1980 offering for sale by Producer's Brokerage Company (PBC) (the client of Home Insurance's insured) of episodes in a videotape series entitled ""Fabulous Follies."" PBC acted as broker of the videotapes. The videotapes were sold individually to investors, most of whom, at the time of sale, also signed a promissory note and a production service agreement authorizing PBC to market the purchased videotape on behalf of the buyer. The success of PBC's videotape investment program depended upon these production service agreements, since PBC hoped to market the videotapes collectively as a series to cable and television stations. The videotape sale, promissory note and production service agreement were intended to form an investment ""package.""