"Poshman" helped me out BIG TIME in the following thread: Princess Stove/oven - Cruisers & Sailing Forums
I personally have a 3342-1126 SeaWard Princess 120 volt that developed the same issues. I had just finished cooking
a nice steak and baked potato, when I went to warm up the oven again for dessert, no light came on and the oven would not turn on. I immediately went into repair mode and for the life of me I could not figure it out. I tried searching the Owners Manual for a thermal fuse and could not find one, I did continuity testing, I unscrewed and pulled out the oven element to look for burnt wires, I traced the wiring
and came to the conclusion it must have been the "Top Burner"s" (should just be burner)/Oven" toggle switch that had a fuse within it (on te side of the switch it says 15A).
A few days later I did further research
online and came across the above thread which details, "wire attaches to the oven thermostat was asmall rocket-shaped metal object." THIS WAS KEY! After further examination, I noticed a wire hidden BELOW all the other wires and a protective sleeve over a portion of the wire TUCKED WAY UNDER the Thermostat. I pulled the wires metal butt connector out of the Thermostat, pulled down the protective sleeve, and to my amazement revealed, you guessed it, the rocket shaped fuse!
After looking online for a replacement fuse, I decided to go to my local hardware
store instead, they referred me to the appliance store, who in turn referred me to a small hole-in-the-wall electrical
store. They had plenty in stock, the connector pieces and all, total damage was $4 and my time and energy.
Amazon had one listed for $7.24 https://amzn.to/2GwgSvF
From looking through the previous owners receipts, I see this had been a problem in the past and cost him well over $60 to try and figure out, he bought new switches and a new left female burner assembly.
Cinnamon buns (other day's dessert) are in the oven now!