(Download) "Salmon v. Bagley Laundry Company." by Supreme Court of Michigan ~ Book PDF Kindle ePub Free
eBook details
- Title: Salmon v. Bagley Laundry Company.
- Author : Supreme Court of Michigan
- Release Date : January 28, 1955
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
1.A pledge of real property for the payment of a debt, in whatever form the transaction is clothed, is a mortgage, and the right of the owner to redeem cannot be extinguished by an agreement made at the time. When one borrows money of another and to secure the loan gives him a deed and takes back a contract of sale, the transaction is a mortgage; and the contract cannot be canceled or forfeited and the borrowers right of redemption extinguished by 30 days notice pursuant to G.S. 1923, § 9576, as amended, 2 Mason, 1927, id. or otherwise than by foreclosure.