The Law of Mortgages, of Real And Personal Property. Being a General View of the English And American Law Upon That Subject
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19.
2 lb.
322 THE LAW OF MORTGAGES. [CH. XIII.
for the mortgagor upon various debts ; by an arrangement between one of the creditors, the mortgagor and mortgagee, the mortgagor paid a part of the debts, and the creditor the rest, the latter taking an assignment of the mortgage, to hold as secmity for his own debt. Held, as against a judgment creditor of the mortgagor, prior to the assignment, the as- signee could enforce the mortgage only fqr the amount paid to procure it." 54. Mortgage to inde...mnify an indorser ; with a provision, that if the mortgagor fail in payment of the note, whoever might be the holder, the mortgagee, upon affidavit of non- payment and the amount due, might foreclose, &c. The mortgage was afterwards transferred without recourse to the indorsee of the note. Held, the mortgage was valid in the indorsee's hands, and might be foreclosed by him, and the property subjected to payment of the note.^ 55. Such mortgage creates a trust for the benefit of the indorsee ; and, if the mortgage is not assigned, the mortga- gee may be compelled to allow the use of his name in a suit to enforce payment of the note.^ 55 a.
What to read after The Law of Mortgages, of Real And Personal Property. Being a General View of the English And American Law Upon That Subject?
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To quickly assess the difficulty of the text, read a short excerpt:
19.
2 lb.
322 THE LAW OF MORTGAGES. [CH. XIII.
for the mortgagor upon various debts ; by an arrangement between one of the creditors, the mortgagor and mortgagee, the mortgagor paid a part of the debts, and the creditor the rest, the latter taking an assignment of the mortgage, to hold as secmity for his own debt. Held, as against a judgment creditor of the mortgagor, prior to the assignment, the as- signee could enforce the mortgage only fqr the amount paid to procure it." 54. Mortgage to inde...mnify an indorser ; with a provision, that if the mortgagor fail in payment of the note, whoever might be the holder, the mortgagee, upon affidavit of non- payment and the amount due, might foreclose, &c. The mortgage was afterwards transferred without recourse to the indorsee of the note. Held, the mortgage was valid in the indorsee's hands, and might be foreclosed by him, and the property subjected to payment of the note.^ 55. Such mortgage creates a trust for the benefit of the indorsee ; and, if the mortgage is not assigned, the mortga- gee may be compelled to allow the use of his name in a suit to enforce payment of the note.^ 55 a.
What to read after The Law of Mortgages, of Real And Personal Property. Being a General View of the English And American Law Upon That Subject?
You can find similar books in the "Read Also" column, or choose other free books by Hilliard, Francis, 1806-1878 to read onlineMoreLess
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