First Nat'l Bank of Manning v. Pierson

I think the appellant's fourth and sixth exceptions should be sustained.

"It is a well-recognized rule of construction that a mortgage is security only for such demands or indebtedness as are in the contemplation of the parties at the time." 11 C. J., 494; § 157.

While the "blanket clause" of a chattel mortgage is valid (Behrmann v. Brown [S.C.] 113 S.E., 273), the very generality and sweeping inclusiveness of its provisions may furnish the best of reasons for defining and making certain the intention of the parties with respect to what debts were actually within their contemplation. If such a…