447. Mode of sale under the statutory power of sale.

The statutory power of sale1 authorises the mortgagee2, when the mortgage3 money has become due4, to sell, or to concur with any other person in selling, the mortgaged property5 or any part of it either subject to prior charges or not, and either together or in lots, by public auction or private contract6, subject to such conditions of title as he thinks fit7. The mortgagee exercising the power of sale has also power to vary any contract of sale, and to buy in at an auction, and to rescind any contract of sale, and to re-sell, without being answerable