Is there an enforceable equitable mortgage under a potentially defective legal chattel mortgage?
Alberta, Canada
The following excerpt is from Production Enhancement Group Inc. (Re), 2011 ABQB 350 (CanLII):
Quest also notes that where moneys are granted under a potentially defective legal chattel mortgage there is nonetheless an enforceable equitable mortgage so long as the defective mortgage reflects an agreement to grant a mortgage. (Fisher v. Brad Shaw [1902] O.J. No. 124).
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