What is the common law meaning of s. 15 of the English legislation?
Saskatchewan, Canada
The following excerpt is from Farm Credit Corp. v. Nelson, 1993 CanLII 8891 (SK QB):
As indicated previously, s. 15 is similar to s. 15 of the English legislation. Like the legislation in Ontario, (at least prior to the reform mentioned), it also retained and still retains the notional common law mortgage concept involving a conveyance of land. But unlike Ontario, it does not codify the common law principle adopted by Teevan v. Smith, supra, that sets out how competing requests for a transfer of mortgage are to be resolved.
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