Chester v. Hill

Citations

• 66 Cal. 480
• 6 P. 132
• 1885 Cal. LEXIS 478

Syllabus

<p>Mortgage—Pledge—Release by Pledgee—Rights oe Pledgor. — The pledgee of a mortgage held by him as security for a debt of the mortgagee, the mortgagor having notice of the transaction, cannot affect the rights of the mortgagee by accepting a conveyance of the mortgaged premises from the mortgagor, and releasing the mortgage. The consent of the mortgagee is necessary to bind him, and M no such consent is given, he may bring an action to set aside the conveyance and release, and to foreclose the mortgage.</p> <p>ib.—Pleading.—The facts entitling the mortgagee to set aside the conveyance and release, and to foreclose the mortgage, constitute but one cause of action.</p>