321. Subsequent and independent transactions.

321.     Subsequent and independent transactions.

The rule against clogging the equity of redemption1 applies to a subsequent transaction which varies the terms on which the mortgagor is entitled to redeem2 but does not invalidate subsequent and independent transactions between the mortgagor and mortgagee relating to the mortgaged property. Accordingly, the mortgagee may, subsequently to the mortgage, stipulate for an option of purchase of the property3, or for a sale4 or release5 to him of the equity of redemption. Such a sale or release is, however, liable to be set aside if there has been any oppression or