Louisville Title Insurance v. Surety Title & Guaranty Co.

Opinion

SIMS, J.

Plaintiff, a title insurance company incorporated in Kentucky and duly qualified to do business in the State of California, has appealed from a judgment entered on a verdict in favor of defendants in an action in which it sought to recover on an agreement under which defendant title company, a title company underwritten by plaintiff (see Ins. Code, § 1234.5 and former § 12402), and the latter’s president, who held 99.9 percent of its stock, agreed to hold plaintiff harmless from any loss on an appeal bond, or a specific indemnity agreement given by plaintiff to a corporate…