703. Implied waiver of mortgage debt.

There can be a waiver of a debt only if the creditor is aware of his rights1. The court will not be anxious to imply waiver from a mere omission, or other circumstances, from which the intention cannot fairly be inferred2. Thus where it was provided by the mortgage deed that, as between the mortgagor and his surety, a certain part of the security given by the principal should be primarily liable to the debt, without mentioning the rest, it was held that on paying off the debt the surety had not lost, by the omission, the right to