TRUSTEES.
No. 5 of 1901.
1339
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 shall have effect subject to the terms of that instrument and to the provisions therein contained.
(4) This section applies to executorships, administrations, and trusts constituted or created either before or after the commencement of this Ordinance.
respect of
22 & 23 Vict.
37.—Where an executor or administrator, liable as Liability of such to the rents, covenants or agreements contained in any executor in lease or agreement for a lease granted or assigned to the rents, etc., testator or intestate whose estate is being administered, has in lease. satisfied all such liabilities under the lease or agreement for a lease as may have accrued due and been claimed up to the time of the assignment hereinafter mentioned, and has set apart a sufficient fund to answer any future claim that may be made in respect of any fixed and ascertained sum covenanted or agreed by the lessee to be laid out on the property demised or agreed to be demised, although the period for laying out the same may not have arrived, and has assigned the lease or agreement for a lease to a purchaser thereof, he shall be at liberty to distribute the residuary personal estate of the deceased to and amongst the parties entitled thereto respectively, without appropriating any part or any further part, as the case may be, of the personal estate of the deceased to meet any future liability under the lease or agreement for a lease; and the executor or administrator so distributing the residuary estate shall not, after having assigned the lease or agreement for a lease and having, where necessary, set apart such sufficient fund as aforesaid, be personally liable in respect of any subsequent claim under the lease or agreement for a lease.
(2) Nothing in this section shall prejudice the right of the lessor or those claiming under him to follow the assets of the deceased into the hands of the person or persons to or amongst whom the said assets may have been distributed.
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