Mortgagee

Deed whether witnessing mortgage by conditional sale or out-and-out sale with condition of re-purchase-Court may look into extrinsic evidence of surrounding circumstances showing in what manner language of document related to existing facts-Criteria for ascertaining whether parties intended sale or mortgage.

Extent of authority to be determined by terms of deed-(Ceylon Case). A mortgagee, like any other holder of property under a deed, is subject to the terms of the deed and his rights may be enlarged or diminished by its terms. A mortgagee in Ceylon is not subject to all the underlying conceptions of English law, but is without doubt bound strictly to fulfill the terms of the deed under which he holds.