Where an unpaid vendor hands to the purchaser the title deeds with a conveyance containing a receipt for the purchase money, he thereby enables the purchaser to represent himself as the owner of the property, and he will be postponed to an equitable mortgagee from the purchaser who obtains the deeds1; and if the unpaid vendor remains in possession as tenant to the purchaser, there is no notice to a subsequent incumbrancer of his lien for unpaid purchase money2.
An owner of shares who hands a
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