Samuel v Jarrah Timber 
- A mortgage was granted over stock,which gave the mortgagee the option to purchase the stock
- The mortgagee purported to exercise the option
- Was the option enforceable?
- Having an option to purchase the stock would undermine a mortgagor’s right to redeem his mortgage
- This likely applies to mortgages of real property also (land), such that an option to buy a fee simple estate in a mortgage agreement would not be enforceable
Posted in Land Law Revision Notes.
This page was last updated on 28th April 2015