A piece of land called Blackacre is subject to a mortgage in favour of Hal.The mortgage was created to secure a debt of $100 000 that Myriam owed to Hal.Myriam defaulted on the repayment of that debt.Blackacre is worth $250 000.Hal has announced that he intends to use the remedy of foreclosure.Because Myriam's default was negligent,a court would probably allow him to do so even if Myriam asked for an order for judicial sale instead.

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Quizplus · Accepted Answer

Foreclosure is an equitable remedy, and courts typically prefer a judicial sale to foreclosure, especially if the property's value significantly exceeds the debt, to ensure fairness and prevent unjust enrichment.

A Piece of Land Called Blackacre Is Subject to a Mortgage