838
Power to sell subject to conditions.
No. 5.] THE ORDINANCES OF HONGKONG: [A.D. 1901
not expressed in the instrument creating the trust or power, and shall have effect subject to the terms of that instrument and to the provisions therein contained.
(3.) This section applies only to a trust or power created by an instrument coming into operation after the commencement of this Ordinance.
27.-(1.) No sale made by a trustee shall be impeached by any beneficiary upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the consideration for the sale was thereby rendered inadequate.
56 & 57 Vict.
c. 53 s. 14.
Case of married woman bare trustee.
Ib. s. 16.
Power to authorize receipt of money by solicitor or banker.
Ib. s. 17.
(2.) No sale made by a trustee shall, after the execution of the conveyance, be impeached as against the purchaser upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the purchaser was acting in collusion with the trustee at the time when the contract for sale was made.
(3.) No purchaser, upon any sale made by a trustee, shall be at liberty to make any objection against the title upon the ground aforesaid.
(4.) This section applies only to sales made after the commencement of this Ordinance.
28. When any land is vested in a married woman as a bare trustee, she may convey or surrender it as if she were a feme sole:
Various Powers and Liabilities.
29.-(1.) A trustee may appoint a solicitor to be his agent to receive and give a discharge for any money or valuable consideration or property receivable by the trustee under the trust, by permitting the solicitor to have the custody of and to produce a deed having in the body thereof or indorsed thereon a receipt for consideration money or other consideration, the deed being executed or the indorsed receipt being signed by the trustee; and a trustee shall not be chargeable with a breach of trust by reason only of his having made or concurred in making any such appointment. The producing of any such deed by the solicitor shall have the same validity and effect as if the person appointing the solicitor had not been a trustee.
(2.) A trustee may appoint a banker or solicitor to be his agent to receive or give a discharge for any money payable to the trustee under or by virtue of a policy of assurance, by permitting the banker or solicitor to have the custody of and to produce the policy of assurance with a receipt signed by the trustee; and a trustee shall not be chargeable with a breach of trust by reason only of his having made or concurred in making any such appointment.
838
Power to sell subject to
conditions.
No. 5.] THE ORDINANCES OF HONGKONG: [A.D. 1901 not expressed in the instrument creating the trust or power, and shall have effect subject to the terms of that instrument and to the provisions therein contained.
(3.) This section applies only to a trust or power created by an instrument coming into operation after the commencement of this O dinance.
27.-1.) No sale made by a trustee shall be impeached by any bene depreciatory ficiary upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the consideration for the sale was thereby rendered in- adequate.
› 56 & 57 Fict.
c. 53 s. 14.
Case of married
woman
bare trustee.
Ib. s. 16.
Power to authorize receipt of money by solicitor or banker.
Tb. s. 17.
(2.) No sale made by a trustee shall, after the execution of the con veyance, be impeached as against the purchaser upon the ground that any of the conditions subject to which the sale was made may have been unnecessarily depreciatory, unless it appears that the purchaser was acting in collusion with the trustee at the time when the contract for sale was made.
(3.) No purchaser, upon any sale made by a trustee, shall be at liberty to make any objection against the title upon the ground aforesaid.
(4.). This section applies only to sales made after the commencement of this Ordinance.
28. When any land is vested in a married woman as a bare trustee, she may convey or surrender it as if she were a feme sole:
Various Powers and Liabilities.
29.-(1.) A trustee may appoint a solicitor to be his agent to receive and give à discharge for any money or valuable consideration or property receivable by the trustee under the trust, by permitting the solicitor to have the custody of and to produce a deed having in the body thereof or indorsed thereon a receipt for consideration money or other consideration, the deed being executed or the indorsed receipt being signed by the trustee; and a trustee shall not be chargeable with a breach of trust by reason only of his having made or concurred in making any such appointment. The producing of any such deed by the solicitor shall have the same validity and effect as if the person appointing the solici tor had not been a trustee.
(2.) A trustee may appoint a banker or solicitor to be his agent to receive or give a discharge for any money payable to the trustee under o by virtue of a policy of assurance, by permitting the banker or solioi- tor to have the custody of and to produce the policy of assurance with a receipt signed by the trustee; and a trustee shall not be chargeable with
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