229. Extent of security created by deposit of title deeds.

229.     Extent of security created by deposit of title deeds.

Where the deposit of title deeds was made for the purpose of obtaining credit, it did not cover money previously advanced and still due1, unless an intention to cover it appeared from the circumstances2. A deposit did, however, cover subsequent advances upon oral evidence of an agreement that the security should be so extended, and notwithstanding that the original deposit was accompanied by a memorandum in writing limiting the purpose of the deposit3; but it did not extend to an advance by a