New York Court of Appeals
Ace Wire & Cable Co., Inc. v. Aetna Casualty & Surety Company
December 1, 198360 N.Y.2d 390
Summary
The New York Court of Appeals affirmed the Appellate Division, holding that the policy’s inventory‑computation exclusion bars only proof based on generalized estimates and does not preclude recovery when loss is shown by unit‑by‑unit physical inventory records, and that the plaintiff’s evidence reasonably proves employee dishonesty, so summary judgment was improper. Justice Wachtler dissented, arguing the exclusion bars the claim and that the plaintiff failed to show independent proof of dishonesty.