Torrens System Mortgages With Chapters On Notice Fraud And Caveats
Torrens System Mortgages With Chapters On Notice Fraud And Caveats
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To quickly assess the difficulty of the text, read a short excerpt:
, referring to a previous judgment of Chancellor Spragge, Y. C. , said '' that very learned Judge declared emphatically that he had no doubt that the equity of a mortgagor to com- pel his assignee to pay would pass by express as- signment to the mortgagee. He added that such an assignment would not fall within the mischief of Prosser v. Edmonds, 1 Y. & C. 481, and that class of cases, and that it would simplify the remedy for the recovery of the mortgage money, giving a direct right of suit bet...ween the party to receive and the proper party to pay, and would create the privity which alone was wanting to make such a suit maintainable.
In the result Stuart, J. , held that the applica- tion of the statute should be restricted entirely to the case where there has been a real purchase by the transferee, and a complete parting with all his interest on the part of the transferor, and that whenever it is impossible for the vendor, the trans- feror, to take advantage of the covenant declared to be implied in his favour, that is, wherever he would have had before the statute no right against the purchaser capable of assignment to the mort- gagee, then the covenant could not be implied in favour of the mortgagee either.
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To quickly assess the difficulty of the text, read a short excerpt:
, referring to a previous judgment of Chancellor Spragge, Y. C. , said '' that very learned Judge declared emphatically that he had no doubt that the equity of a mortgagor to com- pel his assignee to pay would pass by express as- signment to the mortgagee. He added that such an assignment would not fall within the mischief of Prosser v. Edmonds, 1 Y. & C. 481, and that class of cases, and that it would simplify the remedy for the recovery of the mortgage money, giving a direct right of suit bet...ween the party to receive and the proper party to pay, and would create the privity which alone was wanting to make such a suit maintainable.
In the result Stuart, J. , held that the applica- tion of the statute should be restricted entirely to the case where there has been a real purchase by the transferee, and a complete parting with all his interest on the part of the transferor, and that whenever it is impossible for the vendor, the trans- feror, to take advantage of the covenant declared to be implied in his favour, that is, wherever he would have had before the statute no right against the purchaser capable of assignment to the mort- gagee, then the covenant could not be implied in favour of the mortgagee either.
What to read after Torrens System Mortgages With Chapters On Notice Fraud And Caveats?
You can find similar books in the "Read Also" column, or choose other free books by Walter Samuel Scott to read onlineMoreLess
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