macaura v northern assurance (1925) reaffirms the principle that
Macaura v Northern Assurance Co Ltd The House of Lords held insurers were not liable on the contract, since the timber that perished in the fire did not belong to Mr Macaura, who held the insurance policy. Lord Buckmaster gave the first judgment, holding in favour of the insurance companies. Lord Atkinson concurred. Lord Sumner concurred and said the following.[1]