Wadset
Dictionary of Terms and Phrases Used in American or English Jurisprudence · Benjamin Vaughan Abbott · 1879
Dictionary of Terms and Phrases Used in American or English Jurisprudence
An old Scotch term nearly equivalent to the English " mortgage." The mortgagee was called the wadsetter, and the mortgagor the reverser. The mortgage debt was called the wadset sum. A wadset improper was where the mortgagee entered into possession. See Bell. W^AGE, V. To give a pledge or security for performance of any agreement or duty.
See Gage.