The Home Library of Law .. 5

Cover The Home Library of Law .. 5
The Home Library of Law .. 5
Albert Sidney Bolles
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Incidental duties.
41. Authority to sell and convert trust property.
42. How two or more trustees must execute their powers.
43. Trustees' authority is personal and cannot be dele- gated.
44. His authority to sell trust property.
a. — Sale of real estate.
b. — His duty to lease it.
c. — He must keep the property insured and in good repair.
d. — Management of personal property.
e, — ^How property should be invested.
/. — Sale of personal property.
g. — ^Temporary investment of proceeds.
45. A tr
...ustee cannot pledge the trust property.
46. His authority to sue and defend suits.
47. His duty to support the beneficiary.
48. His removal.
49. His compensation.
MODES OF LIMITED OWNERSHIP 739 1. The term trustee includes a great variety of persons who act for others. The cashier of a bank, or director of a raibroad is often called an agent or trustee, but we propose to include in this chapter executors and ad- ministrators, and persons technically known as trustees, who thus serve in discharging many well-known duties.


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