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    Question

    Where the mortgagor binds himself to re-pay the

    mortgage-money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money, the transaction is_______?
    A Usufructuary mortgage Correct Answer Incorrect Answer
    B English Mortgage Correct Answer Incorrect Answer
    C Simple Mortgage Correct Answer Incorrect Answer
    D Mortgage by deposition of title deeds Correct Answer Incorrect Answer
    E Mortgage by conditional sale Correct Answer Incorrect Answer

    Solution

    S. 58. (e)  Where the mortgagor binds himself to re-pay the mortgage-money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage.

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