In Scotch law. The old term for a mortgage. A right by which lands or other heritable subjects are impignorated by the proprietor to his creditor in security of his debt, wadsets are usually drawn in the form of mutual contracts, in which one par-ty sells the land, and the other grants the rlght of reversion. Ersk. InsL 2, 8, 3
Source: Black's Law Dictionary 2nd Ed (1910)
