Margarum v. J. S. Christie Orange Co.

Citations

• 37 Fla. 165

Syllabus

<p>.1. When an instrument, as shown by its own terms, is designed by the parties thereto as a security for the payment of money, it may be enforced as an equitable mortgage, though wanting in the formal execution of it as a legal mortgage. An equitable mortgage may be created by an unsuccessful effort to make a valid legal mortgage, or by pledging specific property for the payment of a debt.</p> <p>:2. Executors and administrators who produce probate of wills or letters of administration, duly obtained in another State, or a Territory of the United States, and properly authenticated under the act of Congress of May 26, 1790, are authorized to maintain actions in the several courts in this State under the same rules and regulations as other plaintiffs.</p> <p>•3. Trusts as to personalty upon the death of the trustee vest in his executor or administrator, upon whom .devolves the estate and office of the deceased trustee, and such executor or administrator will be charged with all the duties of such trustee.</p>