Document Type
Article
Publication Date
January 1997
Volume
21
First Page
449
Abstract
Business firms, including miners and mining companies, seek to preventloss in various ways. When their assets are real property, a mortgage mayprovide 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 mortgagedebt. The Latin word for security was securitas, translated as sponsor. The ideaof a mortgage lien or a security is that the property itself "sponsors" therepayment 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