New Hampshire Fire Insurance Company, of Manchester, New Hampshire, a Corporation v. Virgil & Franks's Locker Service, Inc., a Corporation

MATTHES, Circuit Judge.

This appeal arises from a suit upon a contract of fire insurance instituted by the insured, Virgil & Frank’s Locker Service, Inc., 1 and Sam Mandacina, Joseph Mandacina, and Mike Mandacina, who were, by endorsement, insured as mortgagees of the property covered by the policy. The parties will be referred to in their capacities as plaintiffs and defendant. Jurisdiction rests upon diversity of citizenship and the amount in controversy.

Three main issues of defense were presented to the trial court: a) whether or not plaintiffs had an insurable interest in the property at…