Ashton Wished to Raise Additional Capital for His Business,and Arranged

Ashton wished to raise additional capital for his business,and arranged with Banyon for a $10,000 mortgage on his estate,Blackacre.Ashton did not disclose the fact that he had previously borrowed $10,000 from Clayton by way of a mortgage,and Clayton had not registered his mortgage against the title of Blackacre.Shortly after the mortgage to Banyon was registered,Ashton conveyed the estate to Dayton,for $25,000.Dayton was unaware of the mortgages to Banyon and C,and did not examine the title to Blackacre when he registered his deed.Dayton would be obliged to pay Clayton the $10 000 secured by the unregistered mortgage,if Ashton defaulted in payment.