equitable chattel mortgage
- equitable chattel mortgage
-
Any contract so convincingly established as to show that there was a clear intention to give a lien on specified chattels of, and in the possession of, the lienee, and that the contract ought, in good conscience and equity, to be enforced according to that intention. An agreement founded on a valuable consideration to give a mortgage on a chattel, an instrument inartificially drawn, a mortgage defectively executed, or an imperfect attempt to create a mortgage, or to appropriate specific property to the discharge of a debt. 15 Am J2d Chat Mtg § 3.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
chattel mortgage — see mortgage Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. chattel mortgage n … Law dictionary
Chattel mortgage — Chattel mortgage, sometimes abbreviated CM, is the legal term for a type of loan contract used in some states with legal systems derived from English law. Under a typical chattel mortgage, the purchaser borrows funds for the purchase of movable… … Wikipedia
chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security … Black's law dictionary
chattel mortgage — A pre Uniform Commercial Code security device whereby a security interest was taken by the mortgagee in personal property of the mortgagor. A transfer of some legal or equitable right in personal property or creation of a lien thereon as security … Black's law dictionary
equitable mortgage — An instrument not effective as a mortgage at law but regarded as a mortgage and given the effect of a mortgage in equity, the same as if a mortgage in due form had been executed, under various circumstances, such as the reservation of alien on… … Ballentine's law dictionary
mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… … Law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — the transfer of right of ownership of a property from a debtor to a creditor as security for a debt, with the proviso that once the debt is paid ownership is transferred back. Glossary of Business Terms (1) noun A legal instrument that creates a… … Financial and business terms
Lien — For other uses, see Lien (disambiguation). Property law … Wikipedia
