Section 702 A mortgage is a contract whereby a person, called the mortgagor, assigns a property to another person, called the mortgagee (creditor), as security for the performance of an obligation, without delivering the property to the mortgagee (creditor).
4. When the creditor is refused to accept the performance of obligation from the debtor. (เมื่อเจ้าหนี้ไม่ยอมรับชำระหนี้จากผู้ค้ำประกัน). (Section 701