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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1827 Excerpt: ...the benefit of the cestuique trust, with the care and diligence of a provident owner j and so far is this rule extended, that however fully a discretionary power of management may have been given, yet if the trustee omit doing what would be plainly beneficial, he will be answerable (22): on the other hand, the trustee will not be liable for a loss arising from any accident, or robbery, which without any fault or remissness on his part, may chance to happen (23). It is also the especial duty of a trustee, to obtain, and afford accurate information to his cestuique trust, of the disposition of the trust property (24). He must also keep clear and distinct accounts of it, which he must at all times be ready to render to his cestuique trust. If he deal with the trust.money, he is bound to ear mark it. If he mix it with his own, he must produce the books in which any part of any account of it is inserted; and he must produce partnership books, in like manner, if he have partners who have permitted him to mix the trust with the partnership accounts, and the more so, if he should have lent his partners the trust money, and they have dealt with it (25). Trustees are bound to invest trust monies ous of acting under the direction and protection of a Court of Equity, may file a bill for that purpose, see Lord Redesdale's Treatise on Ch. Practice, p. 108; and see ch. 6, infra..(22) 1 Hovenden on Frauds, p. 436, and the references. (23) Knight v. Lord Plymouth, 3 Atk. p. 480, which was the case of a receiver. See also 2 Fonb. on Eq. p. 179, and the references, and note (i). (24) Walker v. Symonds, 3 Swanst. Rep. p. 61, 64. (25) Freeman e. Fairlie, 3 Mer. Rep. p. 44. Pearse v. Green, I Jac. & Walk. p. 135, and p. 140, and the cases there cited. nies on good security; ...
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- PublisherGeneral Books
- Publication date2010
- ISBN 10 1443206970
- ISBN 13 9781443206976
- BindingPaperback
- Number of pages28
- Rating
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