TRUSTEES.
No. 5 of 1901.
1343
and to rescind or vary any contract for sale or exchange, and to resell the land which is so bought in or as to which the contract is so rescinded, without being responsible for any loss which may be occasioned thereby and no purchaser under any such sale shall be bound to inquire whether the persons making the same may or may not have in contemplation any particular re-investment of the purchase money in the purchase of any other land or otherwise.
sale or
34. For the purpose of completing any such sale or exchange as aforesaid, the persons empowered to sell or exchange as aforesaid shall have full power to convey or otherwise dispose of the land in question, as may be necessary.
[23 & 24 Vict. c. 145 s. 3.]
35.—(1) The receipt in writing of any trustee for any money, securities, or other personal property or effects payable, transferable, or deliverable to him under any trust or power shall be a sufficient discharge for the same, and shall effectually exonerate the person paying, transferring, or delivering the same from seeing to the application or being answerable for any loss or misapplication thereof.
(2) This section applies to trusts created either before or after the commencement of this Ordinance.
26.—(1) An executor or administrator may pay or allow any debt or claim on any evidence that he thinks sufficient.
(2) An executor or administrator, or two or more trustees, acting together, or a sole acting trustee where by the instrument, if any, creating the trust a sole trustee is authorised to execute the trusts and powers thereof, may, if and as he or they may think fit, accept any composition or any security, movable or immovable, for any debt or for any property, movable or immovable, claimed, and may allow any time for payment of any debt, and may compromise, compound, abandon, submit to arbitration, or otherwise settle any debt, account, claim, or thing whatever relating to the testator's or intestate's estate or to the trust, and for any of those purposes may enter into, give, execute, and do such agreements, instruments of composition or arrangement, releases, and other things as to him or them may seem expedient, without being responsible for any loss occasioned by any act or thing so done by him or them in good faith.
(3) This section applies only if and as far as a contrary intention is not expressed in the instrument, if any, creating the trust, and