Treatise on chattel mortgages - Softcover
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1878 Excerpt: ... CHAPTER XIX. FORECLOSURE REMEDIES OF THE MORTGAGEE AFTER DEFAULT OR BREACH OF CONDITION. Various Remedies To Obtain Satisfaction Of The Mortgage Debt.--Ancient Rule.--Sale Under Power In The Mortgage, How To Be Made.--Effect Of Sale.--Sale In Accordance With Statutory Provisions.--Notice Of Sale.--Adjournment Of Sale.--ForeclosUre By Judicial Process And Sale.--Parties Necessary.--ProCeedings, Defences, &c.--Obtaining Judgment On The Mortgage Note And Sale Of The Mortgaged Property On Ordinary ExecuTion.--Statute Of Limitations, When A Bar To Mortgagee's RemeDy.--Waiver Of Mortgagee's Right To Foreclose.--Of The ProCeeds Of The Sale, &c. § 203. Having treated of the rights of the mortgagee we now arrive in regular order at one of the most important portions of our subject, the remedy of the mortgagee to make his security available for the satisfaction of the debt due him by the mortgagor. In considering this branch of our subject we shall ascertain what remedies may be pursued and the manner in which they must be enforced in order to deprive the mortgagor of all interest in the property and how the property is to be converted into money and the mortgage debt satisfied. § 204. In the Roman law, if the debt was not paid at the time appointed, the creditor had the right to sell the property without the authority or intervention of a court of justice provided he duly complied with the following conditions. If the contract of hypothecation gave him an express authority to take possession of the hypothecated property and appropriate it to his use in case of the debtor's default, he might at once seize and sell it. If no such power was given him he was bound to give notice to the debtor of his intention to sell two years before any sale could take place,...
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- PublisherGeneral Books LLC
- Publication date2012
- ISBN 10 1150950919
- ISBN 13 9781150950919
- BindingPaperback
- Number of pages198
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