103. Validity of charge on mortgagor's whole estate.

A charge created by a mortgage and extending to the whole of the mortgagor's real and personal property, whether present or future, may possibly be unenforceable as such, either on the ground that it is too vague to be enforced or on the ground that it is contrary to public policy that a person should be allowed to deprive himself of the whole of his livelihood1. Such a charge is, however, enforceable if it can be construed as confined to property existing at the date of the granting of the charge and ascertainable at the date when it is