The assignment of a debt carries with it every security held by the assignor for the protection of such debt.1 Assignment of a note carries the security of a mortgage on realty,2 and the security of a pledge of personalty.3 Assignment of a security without assigning the debt passes nothing.4 So the assignment of a debt passes a note given therefor, held by the assignor at the time of the assignment,5 and assignment of a note carries the debt for which it is given.6 Thus assignment of a debt carries with it a guaranty of such debt.7 A personal guaranty can not be assigned in some jurisdictions.8 An unaccepted offer of guaranty can not be assigned.9 If a vendor of realty,10 or personalty,11 reserves the legal title until payment in full as security, such security passes to an assignee of the vendor.

1 United States. Church v. Swetland, 243 Fed. 289.

Georgia. Townsend v. Southern Product Co., 127 Ga. 342, 119 Am. St. Rep. 340, 56 S. E. 436.

Nebraska. Guthrie v. Treat, 66 Neb. 415, 103 Am. St. Rep. 718, 92 N. W. 595.

Pennsylvania. Beaver Trust Co. v. Morgan, 259 Pa. St. 567, 103 Atl. 367.

Wisconsin. Roach v. Sanborn Land Co., 135 Wis. 354, 115 N. W. 1102.

2 United States. Batesville Institute v. Kauffman, 85 U. S. (18 Wall.) 151, 21 L. ed. 775.

California. Hurt v. Wilson, 38 Cal. 263.

Illinois. • Miller v. Larned, 103 111. 562.

Indiana. Connecticut Ins. Co. v. Talbot, 113 Ind. 373, 3 Am. St. Rep. 655, 14 N. E. 586.

Massachusetts. Morris v. Bacon, 123 Mass. 58, 25 Am. Rep. 17.

Nebraska. Guthrie v. Treat, 66 Neb. 415, 103 Am. St. Rep. 718, 92 N. W. 595.

3 Church v. Swetland, 243 Fed. 289.

4 Johnson v. Clarke (N. J. Eq.), 28 Atl. 558.

5 Van Pelt v. Hurt, 97 Ga. 660, 25 S. E. 489.

• Chestnut Hill Reservoir Co. v. Chase, 14 Conn 123.

7 Connecticut. Lemmon v. Strong, 59 Conn. 448, 21 Am. St. Rep. 123, 12 L. R. A. 270, 22 Atl. 293.

Minnesota. Sepp v. McCann, 47 Minn. 364, 50 N. W. 246; Anchor Investment Co. v. Kirkpatrick, 59 Minn. 378, 50 Am. St. Rep. 417, 61 N. W. 29.

New Jersey. Hayden v. Weldon, 43 N. J. L. 128, 39 Am. Rep. 551; Woolley v. Moore, 61 N. J. L. 16, 38 Atl. 758.

New York. Craig v. Parkis, 40 N. Y. 181, 100 Am. Dec. 469; Claflin v. Os-trom,, 54 N. Y. 581; Stillman v. North-rup, 109 N. Y. 473, 17 N. E. 379.

Wisconsin. Tidioute Savings Bank v. Libbey, 101 Wis. 193, 70 Am. St. Rep. 907, 77 N. W. 182.

8 An indorsement, "We hereby guarantee the payment of within note," properly signed, was held personal. Ed-gerly v. Lawson, 176 Mass. 551, 51 L. R. A. 432, 57 N. E. 1020.

9 Schoonover v. Osborne, 108 Ia. 453, 79 N. W. 263.

10 Douglass v. Blount, 95 Tex. 369, 58 L. R. A. 699, 67 S. W. 484.

11 Townsend v. Southern Product Co.. 127 Ga. 342, 119 Am. St. Rep. 340, 56 S. E. 436; Rosa-Meehan Foundry Co. v. Ice Co., 72 Miss. 608, 18 So. 364; Landigan v. Mayer, 32 Or. 245, 67 Am. St. Rep. 521, 51 Pac. 649.

But an assignment by a mortgagee of a claim for damages for selling mortgaged property on a lien subsequent to the mortgage has been held not to pass a right of action on an indemnity bond, unless the debt and mortgage have been assigned.12 Assignment of a policy of life insurance as collateral implies an obligation on the part of the assignor to pay future premiums.13