rtners for
example, may mortgage either their common or individual interests. A
husband may give a chattel mortgage to his wife, and she in turn can
give one to him. Likewise a corporation may make such a mortgage.

The law is broader in the way of permitting a minor, married woman, or
corporation to be mortgagees when they cannot act as mortgagors of
their property. Two or more creditors may join in such a mortgage to
secure their separate debts. If the debt of one of them is fraudulent,
his fraud, while rendering the mortgage fraudulent as to him, will not
affect its validity as to the other.

How must the mortgaged property be described? With sufficient
clearness to enable third persons to identify the property. The
description must contain reasonable details and suggest inquiries
which if followed will result in ascertaining the precise thing
conveyed. A description of a baker's stock "stock on hand," would be
too meager, so would be a description of "our books of account, and
accounts due and to become due," but cattle described by their age,
sex and location will satisfy the law, though the cattle of other
owners should form part of the same herd, when they can be ascertained
by following out the inquiries suggested by the mortgage. Again, a
description that is wholly false avoids the mortgage, but if it is
false only in part, this may be rejected and the mortgage remain valid
for the remainder.

More generally the nature of the chattels conveyed determine largely
the character of the description. Thus animals may be described by
weight, age, height, color and breed; vehicles by their style and
manufacturer's name; furniture by piece or set; crops growing or to be
grown by their location and year. A general claim of "all" articles in
a stated place is regarded as sufficient. Oral evidence is admissible
to aid the description in identifying the subject-matter of the
mortgage, and to explain the meaning and extent of the terms of the
description.

A mortgage may be given for a future advance of money. Nor need the
mortgage state that it is thus given; and the fact may be proved
orally. But when the right of third parties are affected, such a
mortgage is not valid against them unless the specific sum that is to
be secured is set forth. Likewise to render a mortgage secure against
attaching creditors of the mortgagor, there must be a distinct
statement of the condition or terms of the mortgage; in other words
th