Document Type
Article
Publication Date
1-1-1997
Volume
21
First Page
449
Abstract
Business firms, including miners and mining companies, seek to prevent loss in various ways. When their assets are real property, a mortgage may provide collateral or other security for their activities. As security for a debt, a mortgage is only an effective remedy when it enables the creditor, such as a bank or other lender, to declare a default, seize the title in a foreclosure action, and then use the property to satisfy the mortgage debt. The Latin word for security was securitas, translated as sponsor. The idea of a mortgage lien or a security is that the property itself "sponsors" the repayment of the debt incurred in a mortgage loan.
Recommended Citation
Barlow Burke,
Reclaiming the Law of Suretyship,
21
S. Ill. U. L.J.
449
(1997).
Available at:
https://digitalcommons.wcl.american.edu/facsch_lawrev/862
