A deed, or contract of sale, absolute in form, may be construed by the courts of equity as a mortgage.

12 A synopsis of the laws of the various states on this subject are to be found collected in the Ency. of Pleading and Practice, Vol. IX, pp. 98-118.

A deed reserving the power to repurchase may be upheld or may be construed as a mortgage. The most important tests in such a case are the intentions of the parties, and the absence or presence of personal liability by the vendor to the vendee.