264 CONVEYANCING. [ART. 21.

P. G. L., (1860,) art. 24, sec. 48. 1856, ch. 154, sec. 139.

46. A mortgage of personal property shall be deemed to con-
tain an implied covenant, (unless the contrary is therein ex-
pressed,) by the mortgagor, to pay the debt and interest specified
in said mortgage.

Ibid. sec. 49 1856, ch 154, sec. 143.

47. Mortgages of personal property shall be valid and fake
effect, except as between parties thereto, only from the time of
recording; and in case of more than one mortgage, the one first
recorded shall have preference.

Hudson v. Warner, 2 H. & G. 415. Gill v. Griffith, 2 Md. Ch. 270.

Ibid sec. 50 1856, ch. 154, sec. 141.

48. Mortgages of personal property may be assigned and re-
leased in the same manner as mortgages of real property, accord-
ing to the rules hereinbefore prescribed for the assignment and
release of the same.

Ibid, sec 51. 1846, ch. 271, sec. 1. 1847, ch. 305, sec. 1.

49. No bill of sale or mortgage of personal property shall be
vah'd, except as between the parties, unless the bargainee or
vendee or mortgagee, or some one of them, or the agent of some
one of them, shall make the affidavit required to be made by
mortgagees of real estate, and such affidavit may be made at any
time before recording, and before any person authorized to take
the acknowledgment of such bill of sale or mortgage.

Ing v. Brown, 3 Md. Ch. 521. Waters v. Dashiell, 1 Md 474. Bryan v.
Hawthorne, 1 Md. 524. Charles p. Clagett. 3 Md. 82. Stockett v. Holliday, 9
Md. 481. Pouke v. Fleming, 13 Md. 392. Cockey v. Milne's Lessee, 16 Md.
207. Denton v. Griffith, 17 Md. 801. Nelson v. Hagerstown Bank, 27 Md. 73.
Phillips v. Pearson, 27 Md. 257. Johnston v. Canby, 29 Md. 211. Hoopes v.
Knell, 31 Md. 550. Mackintosh v. Corner 33 Md. 598. Carson v. Phelps, 40
Md. 96. Marlow v. McCubbin, 40 Md. 132. Snowden v. Pitcher, 45 Md. 260.

1886, ch. 368.

50. In all cases, heretofore or hereafter, where bills of sale
are taken on personal property, which, according to the true
intent of the parties thereto, are chattel mortgages, upon the
payment or discharge of the debts named in said bills of sale by