CHAMBERS, Circuit Judge.
The Michaelsons owned a building in Culver City, California. It burned up on July 17, 1959. It was stipulated by all the parties that the loss was $16,000. It is fair to say the risk was a poor one. A few years before, Travelers Insurance Co. had paid a fire loss there and decided it wanted no more of the risk. Apparently Northwestern was the next company to carry the risk, issuing a policy in the amount of $19,000.
Some days before...
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