All moneys clauses in securities are to be construed according to ordinary principles of contractual construction without any predisposition as to their intended ambit. Upon assignment of a mortgage by the original mortgagee to a third party, the all moneys clause does not automatically secure pre-existing unsecured debts owed by the mortgagor to the assignee. Post-assignment debts may be secured only if they arise in connection with an agreement or arrangement between the mortgagor and the assignee entered into after the assignment and notice thereof. The question of whether constructive notice suffices for the rule in Hopkinson v Rolt in this context was left open.
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