Dominion Instruments Inc purchased an office complex from Premium Holdings Ltd for $1 000 000. Under the terms of that agreement, Dominion paid $400 000 immediately and gave a mortgage under which it promised to pay the remaining amount, with interest, in a lump sum five years after the date of closing. Although the time for payment has now arrived, Dominion has offered only $300 000 to Premium, along with a renewed promise to pay the outstanding amount within one year. Dominion has explained that its financial position is weaker than expected on account of a trade dispute with the United States regarding government subsidies on the manufacture of musical instruments. However, it has also demonstrated that the situation will almost certainly be rectified within 12 months. Premium, however, insists that it is entitled to obtain clear title to the property by foreclosing at once. There is, therefore, a tension between the parties' interests. Discuss that tension by tracing the historical development of the rules regarding foreclosure and redemption.