Mortgages of Stock
(PBB UNITED FBEBB ASSOCIATION.) ' DOMBDIX May 4. An important decision was given bj Mr Justice Willismi to-day affecting a mortgage of stock. Charles Mullens had assigned 'to the British and New Zealand Mortgage. Mullens afterward ■beared the sheep, and sold the -wool to the value of £150, and the Company new sued to recover the value of that wool. The main point at issue was whethei section 11 of the Chattels Securities Act no placed mortgage property in possession of the mortgages that it was improper for the mortgagor to deal with it as defendant had done. His Honor said in cases of land mortgaged the mortgagor was entitled to sever crops, receive rents, Ac, and it seemed it should be the same with regard to cattle where there was an express stipulation that the right of possession remained until a power of Bale was i; arrived at. It would take streng evidence to oonvince him that the right was deprived by the statutory authority quoted.
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Bibliographic details
Feilding Star, Volume VII, Issue 140, 6 May 1886, Page 2
Word Count
169Mortgages of Stock Feilding Star, Volume VII, Issue 140, 6 May 1886, Page 2
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