Principle

PROPERTY LAW — Mortgage — Exercise of Power of Sale — Mortgagee’s Obligation to Obtain Proper Price

Area of law
PROPERTY LAW
Court
Supreme Court

The mortgagee's obligation is good faith and reasonable precautions. He need not obtain the best price, only a proper price. The principle applies to mortgage law. The mortgagee may act in his own interest. The rule protects the mortgagee's discretion. The mortgagor may challenge bad…

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