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Anaconda clause

15/4/19 Anaconda clause


Anaconda clause is a provision in a mortgage deed to the effect that the mortgage secures all the debts that the mortgagor may at any time owe to the mortgagee. It is named so because of its propensity to enwrap the unsuspecting debtor in the folds of indebtedness that is embraced and secured in the mortgage which s/he did not contemplate. 



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