Multiple choice

The mortgage in which the mortgager transfers the possession to the mortgagee is called ______. In such mortgage, (there is)/(there is no), personal liability of the mortgager.

  1. English mortgage, there is

  2. mortgage by conditional sale, there is no

  3. simple mortgage, there is no

  4. usufructuary mortgage, there is no
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Usufructuary mortgage is where the mortgagor delivers possession of the mortgaged property to the mortgagee, and authorises him to retain such possession until payment of the mortgage-money and to receive the rents and profits accruing from the property. In such mortgage, there is no personal liability of the mortgager.

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