Maine Reports; Cases Argued and Determined in the Supreme Judicial Court of Maine Volume 8

Maine Reports; Cases Argued and Determined in the Supreme Judicial Court of Maine Volume 8

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1834 edition. Excerpt: ...that what was before held not to be a mortgage, becomes such in the view of this court, by reason of the additional chancery powers, with which it has been invested, since the decision in Kelleran v. Brown. These powers, though much extended, are still not general, but limited. No further powers, in relation to equities of redemption, have been given. Those previously granted, were deemed adequate to the enforcement and protection of this species of property. As the public exigencies have, in the opinion of the legislature, called for other specified and enumerated powers, appertaining to this jurisdiction, they have been granted; and have been accordingly extended to cases, where a specific performance of contracts in writing is claimed; and to cases of fraud, trust, accident or mistake. It is not pretended that this is a case falling within either of the four latter sources ofjurisdiction. The plaintiff's rights, whatever they may be, depend upon a contract in writing. But giving effect to this contract, could not avail the plaintiff. Where time is not of the essence ofthe contract, it is sometimes disregarded by a court of equity. But here it was of the essence of the contract. It was the condition, upon which the engagement of Owen to reconvey, was distinctly made to depend. Had this constituted a mortgage, according to our law, the mortgagor would have had three years more, after entry or holding for foreclosure, beyond the time limited; but this neither results from the contract, nor could it have been intended by the parties. As the instrument is not a mortgage, the parties to it, and such as come in under them, must be restricted to the time therein stipulated. If that period had not expired at the time of the seisure more

Product details

  • Paperback | 164 pages
  • 189 x 246 x 9mm | 304g
  • United States
  • English
  • black & white illustrations
  • 123674652X
  • 9781236746528