If Bennet mortgages a shop to Davis, who is the mortgagor (the borrower) and who will be the mortgagee (the lender)?
2006-06-27 03:34:28 · 13 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Here is the quote: "IN sanders v Davis, one Bennet mortgaged a shop to davis, the defendant". I'm trying to work out who is who and who is doing what. THanks for your help!
2006-06-27 03:44:05 · update #1
What's the legal citation?
To mortgage is to pledge property as security for a debt. Taking that construction, Bennet would be the pledger or mortgagor.
However, this sentence could've been improperly constructed to mean that Bennet allowed Davis to take possession of the shop and requesting payment over a term, with the shop as collateral.
Context matters, so the legal citation would be helpful.
edit:
LOL @ the guy above. Nice name too. Maybe you'll learn a bit more in business law 102. Or maybe secured transactions.
second edit:
After seeing guy below's answer, I just really want to say this: Can you all pleeeeaaasseeeee look up the definition of mortage (as a verb) before answering this freggin question? Jesus.
2006-06-27 04:13:46 · answer #1 · answered by lingt69 3 · 1⤊ 0⤋
If Bennet mortgages a shop to Davis - meaning that Bennet assigns a mortgage to Davis? Or that he is the mortgage company? Just going from my own interpretation of "mortgages a shop to" it appears that Davis is the borrower and Bennet is the lender.
2006-06-27 03:40:37 · answer #2 · answered by Vanessa B 4 · 0⤊ 0⤋
Here is the CORRECT answer. Bennett is the owner of the shop and is mortgaging it to Davis....therefore Bennett is the mortgagor (borrower) and Davis is the mortgagee (lender).
This is business law 101. Hope this info helped.
2006-06-27 04:09:39 · answer #3 · answered by answerman63 5 · 0⤊ 0⤋
Bennet did the mortgaging. Thus Bennet is the mortgagor. Just like the one who does the granting is the grantor.
But I agree the question is badly phrased, because you could also make a reasonable argument that it means the reverse.
2006-06-27 04:07:53 · answer #4 · answered by coragryph 7 · 0⤊ 0⤋
Bennet - mortgagor (the one granting the mortgage (lien)
Davis - mortgagee (the one receiviing the morgage (lien)
Bennet borrowed money from Davis and granted Davis a mortgage lien against his (Bennett's) shop as collateral for repayment.
2006-06-27 09:46:09 · answer #5 · answered by Mr. October 4 · 0⤊ 0⤋
Bennet is borrowing something (money?) from Davis with his shop as security.
Bennet = borrower
Davis = Lender
2006-06-27 03:44:00 · answer #6 · answered by Grape Ape 2 · 0⤊ 0⤋
Davis is the borrower
Bennet is the lender
2006-06-27 03:39:29 · answer #7 · answered by Anonymous User 2 · 0⤊ 0⤋
If it used to be raining that day.. They ought to had been status below a refuge or whatever in order that they do not get rainy. All above solutions are fallacious bcz I feel they may not be making use of an umbrella if there used to be no rain.
2016-08-31 15:35:46 · answer #8 · answered by ? 4 · 0⤊ 0⤋
This sounds to complicated for me on a summers afternoon during the wk football.
But if this question is really important to you and not just a crank question you can mail me at:
vmaas60@yahoo.com
2006-06-27 03:54:54 · answer #9 · answered by veronica 4 · 0⤊ 0⤋
Whatever bank underwrites the mortgage.
2006-06-27 03:37:47 · answer #10 · answered by PiccChick12 4 · 0⤊ 0⤋