Mortgages of Stock.
Dikidik, M.y*. An important decision was given by Mr Juatice William to-day affecting a mortgage of stock. Charica Mullen has amignod to the British and New Zealand Mortgage Company certain sheep by mortgage. Mullen* afterward tdieared the sheep, and sold the wool to the value of £l5O, and the Company now *ued to recover the value of the wool. The mam l»oiut at itwuc waa whether aection \\ of the Chattel# Securities Act ho placed mortgage property in pua* session of the mortgagee that it waa improper for the mortgagor to deal with it as defendant has done. Hi# Ib'ic»r *aid in case* of land mortgaged the mortgagor was entitled to sever cro|«, to receive rents, &c., and it seemed it should l»c the name with regard to cattle where there was an express stipulation that the right of itoNsuHsion remained until a p'wer of sale waa arrived at It would take strong evidence to convince him that the right was deprived by the statutory authority quoted.
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Bibliographic details
Wairarapa Standard, Volume XIX, Issue 1829, 7 May 1886, Page 2
Word Count
169Mortgages of Stock. Wairarapa Standard, Volume XIX, Issue 1829, 7 May 1886, Page 2
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