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Judging by the introductory material of the standard casebooks and texts on the subject of mortgages, the student of the law of mortgages begins his study with a consideration of "The Nature of a Mortgage." He is first introduced to "the common law mortgage," to "the common law theory of mortgage." His first reading of case opinions on this topic, supplemented, for instance, by Professor Pomeroy's text, will inform him upon "The Original or English Doctrine," I which, the student discovers, comprehends "a purely legal theory" and an "equitable theory" of the nature of "an ordinary mortgage." Thereafter the student is informed concerning "The American Doctrine" and of its comparison with the English "system."

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