Missouri Court of Appeals, Eastern District / Mar 10, 2020
Exotic Motors, Appellant, vs. Zurich American Insurance Co., Respondent.
Exotic Motors appealed the motion court's grant of summary judgment to Zurich American Insurance Company regarding a claim under its False Pretense Coverage clause. Exotic Motors paid for a vehicle from a fraudulent seller but never received possession or legal title. Zurich denied the claim, asserting Exotic Motors never "acquired" the vehicle as defined by the policy. The appellate court affirmed, holding that the term "acquire" unambiguously requires possession and control, which Exotic Motors lacked, thus precluding coverage.