Lippert

The plaintiffs jointly appeal from a judgment entered in favor of defendants Bailey and Marcom.

On January 6, 1956, plaintiffs, E. Lippert and J. Seach, purchased an improved multiple unit property in Los Angeles County. A few days after the purchase, said plaintiffs deeded an undivided one-half interest in the property to B. & J. Lippert. On or about January 1, 1956, defendant Bailey was a licensed general insurance agent doing business under the name of Bailey and Company in the County of Orange. Bailey was an authorized agent for Fireman’s Fund Insurance Company. The defendant Bailey, having previously done insurance business with the plaintiff, on or about January 1, 1956, “issued, or procured and signed as agent,” a three-year Fireman’s Fund Homeowners’ Policy insuring the real property against named perils for $28,000 and the personal property for $11,200. The named insureds in the policy were plaintiffs, E. Lippert and J. Seach, with a loss payable clause in favor of A. Cheesman, Mortgagee. Effective January 1, 1959, defendant Marcom, a licensed insurance agent and an agent for Fireman’s Fund Insurance Company, (hereinafter called Fireman’s Fund) purchased defendant…