(b) Has been convicted of any felony or misdemeanour, his name may be removed from the Register.

APPEAL TO SUPREME COURT, ETC.

In every case of removal of a name from the register an appeal in the nature of a re-hearing lies to the Supreme Court. Charges may be heard and determined, and penalties recovered, before a stipendiary or police magistrate, or any two justices in Petty Sessions.

MEDICAL PRACTITIONERS, FURTHER PROVISIONS

RESPECTING.

The following further provisions relative to medical practitioners are made by the "Medical Practitioners Act of 1900.”

The Board may remove from the Register the name of a person guilty of infamous conduct in any professional respect.

Any person advertising or notifying that he treats diseases or injuries, or that diseases or injuries are treated in any house referred to in such advertisement, etc., is required to state his Christian name and surname in full, and to place the same upon any such house, under a penalty of £20, or a proportionate term of imprisonment in default. In case of a continuing offence, the party may be fined £5 per day from the time the offence was first committed.

Any person purporting to be, but not being, the person advertised or notified as above-mentioned, who treats disease, etc., in any such house, is liable to a penalty of £20, or in default to imprisonment as before. Proof that he is the person advertised, etc., to lie on accused.

The Board may place the name of any person who has undergone a certain course of medical study, but is not qualified in the manner prescribed by statute, on a separate Register, if in their opinion he is fit to practise.

A stipendiary or police magistrate, or any two justices, may adjudicate in the above matters.

mortgages.

DEFINITION OF MORTGAGE.

In the view of a court of law, a mortgage is an absolute conveyance of property, subject to a proviso for re-conveyance on payment of the money advanced, with interest, upon a date mentioned in the deed.

But in equity a mortgage debt is a sum of money for the re-payment of which the property is conveyed merely as a

security; and the mortgagor is looked upon as the actual owner. The law of mortgage falls almost exclusively within the jurisdiction of the Equity Court.

EQUITY OF REDEMPTION.

It is held at law that if the mortgagor does not repay the sum advanced punctually on the day named, he shall lose his property; but, in equity, it is held that the mortgagor has still the right to a re-conveyance of it on payment of all principal, interest, and costs within a reasonable time after the day fixed. Such right is termed the mortgagor's "equity of redemption, or, shortly, his "equity."

The equity of redemption is now looked upon as an equitable estate over which the mortgagor has full power of disposition; but the purchaser must, of course, take such an estate subject to payment of whatever may be due on the mortgage.

CONVEYANCE BY WAY OF SECURITY.

There are cases in which there is a bonâ fide absolute sale and conveyance with a collateral agreement for re-purchase by the mortgagor on payment of the advance and interest upon the date fixed. In such cases the mortgagor must repay the loan strictly at the time mentioned, otherwise he will lose his property. It should be noted that what appears to be an absolute conveyance may be held, upon consideration of the attendant circumstances, to be a mortgage merely; e.g., as if the sum paid is grossly disproportionate to the fair value of the

estate.

TACKING ENCUMBRANCES.

If a third mortgagee, who had no notice of any second mortgage at the time when he advanced his money, afterwards hears of a second mortgage, he may purchase the first mortgage, and, as it is expressed, "tack" his third mortgage to it; he has then a right to payment of the amount due on the first mortgage, together with that due on his third mortgage, before the second mortgagee can take anything; and the latter may, therefore, be entirely squeezed out.

The third mortgagee, by taking a transfer of the first mortgage, obtains the legal estate; and if the contest is between innocent parties, it is a maxim of equity that "where the equities are equal the law shall prevail."

The above applies equally to fourth or subsequent mortgagees, who have advanced without notice of the first mortgage.

WHO MAY REDEEM A MORTGAGED ESTATE.

The mortgagor himself; a subsequent mortgagee; a devisee; an executor or administrator, or the next of kin; a remainderman or reversioner; a judgment creditor; the Crown; a purchaser; or a tenant under the mortgagor after the mortgage has been made.

CONSOLIDATION OF SECURITIES.

Suppose that A. mortgages land to B. for £500, and subsequently mortgages other land to B. for £300, B. is, in virtue of the maxim that "he who seeks equity must do equity," placed in the same position as if the whole of the lands had been mortgaged to him for £800, and A. cannot redeem one without also redeeming the other; and, further, B. may insist upon being paid the sum total of principal and interest due him on both securities out of the lands included in either.

And the above also holds good in the case of mortgages by the same mortgagor to different persons becoming vested in the same mortgagee; e.g., in the example given, A. might have mortgaged lands to B., and then have mortgaged other lands to C., and C. have then assigned his mortgage to B., in which case B. would have the same right, no matter in whom ʊne equities of redemption of the land might be vested. The above is termed "consolidation of securities"; and to such risk and the risk of "tacking" a second mortgagee or the purchaser of an equity are alike exposed.

FORECLOSURE.

After the time for redemption is past the mortgagor must be prepared to repay the loan and interest within a reasonable time, otherwise the mortgagee mav go into equity and obtain a decree for foreclosure; after which the mortgagee may retain the estate absolutely, and the equity of the mortgagor will be gone. The court, however, has power to direct a sale instead of a foreclosure upon the request of either party, but in case the requisition is made by the mortgagor the mortgagee's concurrence is essential.

POWER OF SALE.

A power for the mortgagee to sell the estate upon the breach of any covenant or condition in the mortgage deed is almost always given him; and this saves the expense and delay attendant upon a foreclosure suit.

There is also a power of sale implied in every mortgage of lands, tenements, and hereditaments in virtue of a certain statute; but this is generally superseded by the special power above referred to.

NOTICE TO MORTGAGEE, IF LOAN NOT PUNCTUALLY REPAID.

If the mortgagor does not repay his loan punctually on the date mentioned, the mortgagee will be entitled to six months' written notice of the mortgagor's intention of so doing; and at the expiration of this notice, the mortgagor must punctually pay or tender all principal and interest then due. If the mortgagor wishes to pay off the loan before the allotted period has expired, he will generally be allowed to do so upon payment of six months' interest in advance, or such proportion as may be agreed upon.

RAISING INTEREST UPON DEFAULT.

A proviso that the rate of interest shall be raised upon default in punctual payment, etc., by the mortgagor is void in equity; but a stipulation that the rate shall be decreased on punctual payment and observance of covenants is good. It is therefore usual to reserve interest at a higher rate than that which the lender is willing to accept, with a proviso for reduction upon punctual payment.

EQUITABLE MORTGAGE.

A mere deposit of title deeds with the lender without any writing operates as an equitable mortgage of the property of the borrower included in such deeds.

But a memorandum in writing should always accompany such deposit, so as to prevent any question from arising as to the intention of the parties.

MEMORANDUM OF DEPOSIT OF TITLE DEEDS.

Memorandum.-I, A. B., of, have this day deposited with C. D., of —, the title deeds of my freehold [or freehold and conditionally purchased] estate situated at mentioned in the schedule hereunder written, for securing to him on demand the repayment of £- this day advanced to me by the said C. D. with interest for the same at the rate of £- per cent. per annum [and also to secure to the said C. D. the repayment of any further advances he may hereafter make to me, with interest thereon, at the rate aforesaid, until the repayment thereof.] And I agree whenever requested so to do, and at my own cost, to execute a proper conveyance by way of mortgage of the said estate for securing the payment of the said £ and interest [or the said £- and interest and the said further advances and interest], such mortgage to contain all proper

and usual powers of sale, covenants, and provisions as by the said C. D. or his solicitor may be required.

"ONCE A MORTGAGE ALWAYS A MORTGAGE"

The meaning of this equitable axiom is that by no agreement in a mortgage can the property comprised therein be made irredeemable; notwithstanding the stringency of any covenant or condition in the instrument, if it appears from the whole that the parties contemplated a mortgage only, the conveyance will be held in equity to be by way of mortgage, and therefore subject to the equity of redemption.

MORTGAGES AND PLEDGES OF PERSONALTY.

A mortgage of personalty is generally made by means of a conditional bill of sale, the possession of the goods and chattels being usually left with the mortgagor, at any rate until default

occurs.

As to a pledge of personalty, the possession of the goods is at once given to the pledgee, who obtains a special limited property in them, together with a right of retention till the debt is paid; such pledges are usually made to licensed pawnbrokers -the law in regard to which has been noticed under another heading.

In regard to mortgages of personal property, the equity of redemption exists as in the case of realty, but there is no foreclosure; on due notice, if any is required by the terms of the instrument, the mortgagee (or grantee of the bill of sale) may sell the property; the doctrines of tacking and consolidation are also applicable, as in the case of mortgages of realty.

MORTGAGES OF LEASEHOLDS.

A mortgagee of leaseholds becomes liable to the lessor during the continuance of the mortgage for the due performance of the covenants and conditions of the lease; and against this liability his only protection is the mortgagor's covenant to indemnify him. For this reason, mortgages of leaseholds are almost always made by way of demise or underlease, the mortgagor's term being demised to the mortgagee less the last few days thereof; the mortgagee is then a stranger to the lessor and avoids the above-mentioned liability.