188 SALMON r. CLAGETT.—3 BLAND.

addition to the common law solemnities as a necessary constituent
of a deed to secure the payment of money, as between the parties
to it. Hence, a deed of this kind, as between the parties them-
selves, has always been deemed as valid and effectual without re-
cording as with it. And as to creditors and purchasers, if they
have, by any other means, obtained that notice, which it was the
design of recording to give, even they are not allowed to object to
the validity and operation of the deed on that account. But, in
no instance, has any of the immediate parties to such a deed ever
been suffered to object, that it should not be enforced; because it
had not been recorded in time; such an objection can only come
from a creditor, a purchaser, or some innocent third person whose
interests are affected by the deed. Here there is no such third
person before the Court; the objection is made by home of the par-
ties to the mortgage itself; which cannot be permitted; since as to
them the deed is valid by the common law; and in no way affected,
as a security for money, by the Acts of Assembly requiring such
instruments to be recorded. There is then, nothing in this posi-
tion taken against the validity of the mortgage. 2 Inst, 774;
Northcott v. Underhill, 1 Ld. Raym. 388; S. C. 3 Salk. 199; Bac.
Abr. tit. Bargain and Sale, E. 1; Bushell v. Bushell, 1 Scho. & Lef.
99; Wood v. Owings, 1 Cran. 240; Hamilton v. Russell, 1 Cran. 315;
Dorsey v. Smithson, 6 H. & J. 61; Hudson v. Warner, 2 H. & G.
415.

It appears that Charles Salmon had agreed to lend his credit to
Thomas Clagett, by selling him goods to be paid for at some future
day; by lending him money; and by becoming his surety, hi the
way of lending or endorsing notes. Hence, in respect to that
agreement, they stand towards each other simply as creditor and
debtor. But, for the purpose of securing Salmon against any loss
be might sustain by the credit so given; Thomas Clagett with
Elizabeth Clagett and others mortgaged their property to Salmon:

173 * and consequently, to the extent of Salmon's claim for in-
demnity under the moitgage, he must be regarded as the
creditor; Thomas Clagett as the principal debtor; and Elizabeth
Clagett with the other mortgagors as his sureties. This is the
situation in which the parties have been placed by the mortgage
itself; and this suit brings them here in the same relation towards
each other. The dealings between Salmon and Thomas Clagett
are no otherwise of any importance, in this case, than as shewing'
the consideration on which Salmon's claim is founded; and that it
is of some amount; or how far any of Salmon's conduct, in relation
to those dealings may have impaired that implied contract by vir-
tue of which the sureties of Thomas Clagett have a right to have
the impending loss averted from them by a bill quia timet; or to
take the place of Salmon in order to obtain reimbursement.