126. Bonds as collateral security.

(ii)     Bonds

126.     Bonds as collateral security.

A bond by way of collateral security to a mortgage was formerly given, by an instrument separate from the conveyance of the property, for the purpose of enabling the mortgagee to sue in debt1; but because an equally effective remedy is given by the covenant for payment in a mortgage2, the bond has fallen into disuse3.