Mercer v. Raybon

The Court of Appeals desires instructions from the Supreme Court upon the following questions, a determination of which is necessary for a decision of this case: “1. Where a note payable to a named person or bearer is secured by a mortgage likewise payable to such person or bearer, does the delivery of the note and mortgage to a third person transfer the lien of the mortgage, independently of any separate assignment in writing of the mortgage? 2. If the foregoing question should be answered in the. affirmative, that is, 'if it should be held that the title to the mortgage passes by ,such…