Equity regards a grantee's assumption of a mortgage debt as a covenant to indemnify his grantor. Accordingly, if the mortgagee releases the mortgagor of all liability, the assuming grantee's liability is at an end.
PER CURIAM.
The order appealed from will be affirmed, for the reasons stated in the opinion delivered by Vice-Chancellor Backes in the court of chancery.
For affirmance — TRENCHARD, PARKER, LLOYD, CASE, BODINE, DONGES, BROGAN, HEHER, KAYS, HETFIELD, WELLS, KERNEY, JJ. 12.
For reversal — None.