THE MORATORIUM
EFFECT OF NEW ACT. ' ' , A few complaints are being mad© re gurding the eifect of the Mortgages Es tension Act passed this session. It i) being said that under the Act mort< gagces are not given good enough so* ourity, and that people are now unwilling to lend money on mortgage. - Thi Bill, however, was not-framed to facili tato borrowing, but to protect from dis< aster those who have already borrowed, and who have mortgages falling duec The 1 important point in the Act is. that extending mortgages, and it is safe to say. that as the Act will remain in force only while the war lasts, it'will not extend tlu> currency of mortgages Riven, now, which would have a .currency of say three years or more. A mortgagor may be sued for interest under the Act, and if the Court should hold that for non-payment of interest or ' for other reasons the mortgagee ought to exorcise his extreme, rights under the mortgage, he may do A so. The Attorney-General said, when speaking on tho Bill in the House that ha considered this protection adequate.
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Dominion, Volume 7, Issue 2233, 20 August 1914, Page 6
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187THE MORATORIUM Dominion, Volume 7, Issue 2233, 20 August 1914, Page 6
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