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SETTLED LAND ACT 1882 - SECT 40

Trustees receipts.

40. The receipt in writing of the trustees of a settlement, or where one
trustee is empowered to act, of one trustee, or of the personal
representatives or representative of the last surviving or continuing trustee,
for any money or securities, paid or transferred to the trustees, trustee,
representatives, or representative, as the case may be, effectually discharges
the payer or transferor therefrom, and from being bound to see to the
application or being answerable for any loss or misapplication thereof, and,
in case of a mortgagee or other person advancing money, from being concerned
to see that any money advanced by him is wanted for any purpose of this Act,
or that no more than is wanted is raised.

© 1882 Crown Copyright

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