640. Illustration of application of marshalling.

Where two properties are mortgaged to A, and then one of them is mortgaged to B, and afterwards the other to C, there is no right of marshalling1 in favour of B against C, so as to throw the whole of the first mortgage on C's security, notwithstanding that C took with notice of the prior mortgages. As between B and C, however, the first mortgage is apportioned between the two properties according to their value