A Treatise On the Law of Stock Brokers
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300, n. 1 (a), and p. 492, n. 1 (12th 324 THE PLEDGE.
[PART III.
Remarks of Sir John Eomilly.
Powers of executors to pledge.
" necessary incident to his trust, as it is to the office of " executor. He may have the,legal title, and yet have " no authority to sell. His sale may be entirely un- " authorized by the instrument that created the trust ; " it may have been forbidden." It is one of the chief duties of executors, as such, 1 or administrators, to col- lect the assets of the testator, pay ...his debts, and fulfil or settle other obligations binding upon his estate. In order to do this, they must have power to sell, and, often, to pledge the assets. Executors, therefore, apart from any power contained in the will, as well as ad- ministrators, have implied authority, not only to dis- pose of, but to pledge, the assets of the decedent, to raise the money for the purposes of the estate. 2 " For " the purpose of selling the estate of a testator," says Sir John Komilly, " the executor is considered as the " absolute owner, and has all the powers incidental to " that character.
What to read after A Treatise On the Law of Stock Brokers?
You can find similar books in the "Read Also" column, or choose other free books by Biddle, Arthur, 1852-1897 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
300, n. 1 (a), and p. 492, n. 1 (12th 324 THE PLEDGE.
[PART III.
Remarks of Sir John Eomilly.
Powers of executors to pledge.
" necessary incident to his trust, as it is to the office of " executor. He may have the,legal title, and yet have " no authority to sell. His sale may be entirely un- " authorized by the instrument that created the trust ; " it may have been forbidden." It is one of the chief duties of executors, as such, 1 or administrators, to col- lect the assets of the testator, pay ...his debts, and fulfil or settle other obligations binding upon his estate. In order to do this, they must have power to sell, and, often, to pledge the assets. Executors, therefore, apart from any power contained in the will, as well as ad- ministrators, have implied authority, not only to dis- pose of, but to pledge, the assets of the decedent, to raise the money for the purposes of the estate. 2 " For " the purpose of selling the estate of a testator," says Sir John Komilly, " the executor is considered as the " absolute owner, and has all the powers incidental to " that character.
What to read after A Treatise On the Law of Stock Brokers?
You can find similar books in the "Read Also" column, or choose other free books by Biddle, Arthur, 1852-1897 to read onlineMoreLess
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