1929 Present: Lyall Grant J. and Maartensz A.J.

WALPOLA v. COOKE.

88-D. C. {Inty.) Colombo. 25,455.

Mortgage Decree-Assignment by way of mortgage-Subsequent seizure in execution-Realization of security by decree-holder-Rights of mortgagee-Civil Procedure Code, s. 339.

A obtained judgment against X on a mortgage bond, and mortgaged the decree with B. Subsequently C, in execution of a decree against A, seized the mortgage decree, got himself substituted as plaintiff in the action and had the security realized.

Held, that C had a preferent right to the proceeds of sale.

THIS was a mortgage action in which the plaintiff, A obtained judgment against X for a sum of Rs. 8,480 and interest. Decree was entered on November 25, 1927. Plaintiff assigned the decree by way of mortgage to intervenient appellant B by deed No. 115 of January 21, 1928, which was registered in the register dealing with immovable property. The substituted plaintiff-respondent C, who was judgment-creditor in D. C, Colombo, No. 29,229, obtained decree in that case on August 23, 1928, and seized the decree in this case on August 30, 1928, under section 234 of the Civil Procedu