MacFarlane v. Thompson

The plaintiff executed to the defendant in December, 1919, a second mortgage of real estate for the sum of $2,-834.69, “upon the statutory condition for any breach of which the mortgagee shall have the statutory power of sale.” It was payable in monthly instalments. In February, 1920, the mortgage was assigned to one Kempster by an assignment in common form; the master found that it was assigned as collateral security for the defendant’s promissory note for $1,500, payable to Kempster. The assignment was not recorded. There was a default in the March instalment and the defendant’s agent in…