Cowderys New book of Forms Being Legal Forms And Precedents for Court Proceedi

Cover Cowderys New book of Forms Being Legal Forms And Precedents for Court Proceedi
Cowderys New book of Forms Being Legal Forms And Precedents for Court Proceedi
Jabez F Jabez Franklin Cowdery
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It is nothing more than security for a debt. Title does not pass either before or after condition broken except by deed or on fore- closure: Guy V. Ide, 6 Cal. 99, 65 Am. Dec. 490.
Form of Execution. — If the mortgage is given to secure a debt, the form of contract is not material. The debt must be capable of identifi- cation, but it may be evidenced by a promissory note, bond or any other written obligation for the payment of money. The words "I mort- gage the property, " described in the writ
...ing, accompanied by a provi- sion for the sale of the property, is all that is necessary: Blakeman v. Vallejo, 15 Cal. 638. Neither bond nor note is necessary if a mortgage describes a debt and contains a promise to pay it: De Leon v. Hig- uera, 15 Cal. 483.
Two instruments taken together described property and the amount of indebtedness, and conveyed the premises as security for the indebted- ness. Held, to be a good mortgage: Woodward v. Guzman, 1 Cal. 203. Al- though that ease is ancient California law, and notwithstanding the Civil Code provision that a mortgage must be executed with the formal- ities necessary for a grant of real property, it is in harmony with all the cases holding that an absolute deed in form is a mortgage if there is also a separate written defeasance.


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