324. Mortgages temporarily unredeemable.

324.     Mortgages temporarily unredeemable.

Although in general no contract between a mortgagee and mortgagor can make a mortgage irredeemable1, the circumstances of the case may make redemption for a time impossible, as for example when a mortgage is made to secure an annuity, or as an indemnity against future liabilities, or for any other object not capable of immediate pecuniary valuation2.