Norwich Union Fire Ins. Society, Ltd. v. Paramount Famous Lasky Corp.

WILBUR, Circuit Judge.

The appellee suffered a loss by reason of the partial' destruction of premises owned by it in the vicinity of Los Angeles. The fire occurred at 6 o’clock p. m. on January 16, 1929. On that morning the appellants, upon the application of James & Co., insurance brokers at San Flraneiseo, issued, respectively, two instruments, each of which was designated “covering note” and an instrument designated “covering memorandum” (such instruments being otherwise termed, in the insurance world, as “binders”), covering the property which was later on the same day destroyed by fire.…