Liability Incurred - Law Dictionary Search Results

Mortgage

an existing or further debt. Or the performance of an engagement which may give rise to a pecuniary liability. The transferor is called a mortgagor, the principal money an interest of which payment is secured for the … with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one