Bradley V. Garritt in Europe
Definition of Bradley V. Garritt
([1903] A. C. 253). A stipulation in a mortgage deed for a collateral advantage is void if it attempts to bind the property after redemption as inconsistent with the right to redeem. A person holding most of the shares in a tea company mortgaged the shares to secure a loan, and agreed to use his best endeavours that, after the loan was paid off, the mortgagee, a broker, should continue to have the sale of the company’s teas and should have a commission on other sales. Held, the agreement was invalid, as it restricted the power of the mortgagor to deal with his shares after the mortgage was paid off. See Kreglinger v. New Patagonia Co
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Definition of Bradley V. Garritt is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.
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