to be taught to her the said apprentice, together with reading, writing and the other usual branches of a common school education; and shall and will during the said term find, provide and allow her sufficient meat, drink, clothing, lodging, washing, and all other necessaries; and at the expiration of the term aforesaid shall and will give unto the said apprentice two suits of apparel.

In Witness, &c. (Conclude as in last firm).
Signed, &c.,

T. J.

M. F. [L.S.]

S. F. [L.S.]

R. H. [L.S.]

Assignment of an Indenture of Apprenticeship.

Know all men by these presents, that I, the within named T. M., by and with the consent.of H. J., my within named apprentice, and W. J., his father (or as the case may be), parties to the within Indenture, testified by their signing and sealing these presents, for divers good causes and consideration, have assigned and set over, and do hereby assign and set over, the within Indenture, and the said H. J., the apprentice within named, unto J. T., of, &c., Printer, his executors, administrators or assigns, for the residue of the within mentioned term, he and they performing all and singular the covenants therein contained on my part to be kept and performed.

And I, the said H. J., do hereby covenant on my part, with the consent of my father, the said W. J., faithfully to serve the said J. T. as an apprentice for the residue of the terin within mentioned, and

to perform toward him all and singular the covenants within mentioned on my part to be kept and performed.

And I, the said J. T., for myself, my executors, administrators and assigns, do hereby covenant to perform all and singular the covenants within mentioned on the part of the said T. M. to be kept and performed toward the said apprentice.

Witness our hands and seals this

day of

CHAPTER XV.

MORTGAGES.

According to the text writers, a mortgage may be defined to be a debt by specialty, secured by a pledge of lands, of which the legal ownership is vested in the creditor, but of which, in equity, the debtor, and those claiming under him, remain the actual owners, until debarred by judicial sentence, by legislative enactment, or their own laches. In popular language, and speaking with reference to real estate, or landed property only, it may be called

a pledge of land: whereby the debtor or pledgor, or, as he is commonly called, the mortgagor, conveys his land to the creditor or pledgee, or, as he is commonly called, the mortgagee, subject to a condition or proviso that, if the debt is discharged by a day named, the pledge shall be void, and the mortgagor shall be entitled to receive back and hold the lands, free from all claims created by the mortgage. By virtue of a mortgage, the right of property to the land mortgaged, passes to the creditor, subject to be divested by the payment of the debt at the appointed time. Assuming the mortgage to have been drawn in the usual form, with a proviso that on payment of the debt and interest, the mortgage should be void; upon payment, the property will re-vest in the mortgagor without any deed or instrument of re-conveyance. In practice, however, it is usual to take a discharge of mortgage, which operates as a re-conveyance. If the debt be not paid on the day named, the land, at law, becomes the absolute property of the mortgagee, and he may proceed to take possession of it: quietly, if he can; if not, by means of ejectment. The Court of Chancery will, however, give the mortgagor liberty to redeem, at any time within twenty years, on payment of what is due for principal and inteWhen the debt is paid after the appointed day, a re-conveyance or discharge of mortgage is requisite in order to re-vest the property in the mortgagor.

rest.

A mortgagee may take a release of the equity of redemption from the mortgagor, or may purchase

the same under a power of sale in his mortgage, without thereby merging his debt: that is to say, without thereby losing the right to hold the lands against any person having a claim on them subsequent to the mortgagee's, until his debt and interest be paid; and if such subsequent creditor should afterwards take proceedings in Chancery to foreclose his mortgage, he will only be allowed to do so, subject to the rights of the mortgagee who has so acquired the equity of redemption.

Mortgages should be executed in duplicate, and one part left in the Registry office, as in the case of a deed of land. A mortgagee has several remedies if his mortgage be not paid at maturity. He may bring an action at law upon the covenant to recover the amount of principal and interest due; or he may bring an action of ejectment, and take possession of the premises in which case he will be entitled to hold the lands until the full amount of principal and interest has been discharged out of the rents and profits; or he may file a bill in equity to have the mortgage foreclosed: in which case he will acquire a title to the lands discharged of all equity of redemption; or sold: in which case the premises will be sold under the direction of the Court, and the debt due paid out of the proceeds, if sufficient, and if insufficient, the mortgagor will be ordered to pay the deficiency. If the mortgage contains a power of sale, the lands may be sold without going to the Court.

When a mortgage is paid off, a discharge should be signed and registered: it will then be marked

as discharged in the books of the Registry. A discharge must be signed by the mortgagee, or his assignee, if the mortgage has been assigned; or by his executor or administrator, if he be dead. When a mortgage has been made in favor of a married woman, both husband and wife must sign the discharge. It is sufficient to sign in the presence of one witness; and the usual affidavit of execution must be made by him.

The act "respecting Short Forms of Mortgages," is the 27 & 28 Vic., c. 31: passed in 1864.

Statutory Mortgage.

This indenture, made the day of

in pursuance of the act respecting short forms of mortgages, Between A. B., of, &c., (hereinafter called the mortgagor) of the first part; C. D., wife of the said party of the first part, of the second part; and E. F., of, &c., (hereinafter called the mortgagee,) of the third part, Witnesseth that in consideration of $ of lawful money of Canada, now paid by the said (mortgagee or mortgagees,) to the said (mortgagor or mortgagors,) (the receipt whereof is hereby acknowledged,) the said (mortgagor or mortgagors,) doth (or do) Grant and Mortgage unto the said (mortgagee or mortgagees), his (her or their) heirs and assigns, for ever all &c., (here describe the premises.) And the said C. D., wife of the said mortgagor, hereby bars her dower in the said lands. Provided this mortgage to be void on payment of $ (here state amount of principal