194 Mass. 585 | Mass. | 1907
This is an action of tort for the conversion of certain articles of household furniture. The defendant claims title under a mortgage. The St. 1892, c. 428, § 8, (R. L.
We think the statute requires that such a mortgage shall “ state with substantial accuracy ” what the fact is in regard to each of the matters referred to as a subject for a statement. The statute recognizes that mortgagees, in transactions of this kind, are sometimes hard and oppressive in their dealings with mortgagors, and it was with a view to the protection of small borrowers at high rates of interest that these facts are required to be stated in the mortgage, so that they will appear of record. The benefit of the provision would be much diminished if the statement could be omitted, and the mortgage held valid upon the testimony of the mortgagee that there was no expense of making and securing the loan. It is in part to prevent the possibility of such contradiction as appeared at the trial in the present case that the written statement in the mortgage is required. If there was no expense, the mortgage should have contained a statement to that effect.
Exceptions overruled.