Where the security is sold and the proceeds are insufficient to satisfy the principal and interest in full, it is necessary to determine the way in which the loss shall be shared as between the tenant for life and the remainderman.

[3] The estate was worth approximately £29,000 and was invested in a mortgage loan secured over three farms at 5 per cent.

It was anticipated that upon the sale of the farms, the purchase price would not be sufficient to pay all of the accrued interest as well as the outstanding capital amounts.

Accordingly, the Barbers' Company brought a summons in March 1892 to determine whether or not the mortgage ought to be foreclosed in this manner.

He acknowledged that the adjustment could not be made at this time, but that the Court could specify all the factors which were necessary to take account of when making that apportionment.