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of <h1>Trustees Must Act Prudently Under Section 15 of Indian Trusts Act, 1882, or Face Liability for Negligence</h1> Under Section 15 of the Indian Trusts Act, 1882, a trustee must manage trust property with the same care as a prudent person would if it were their own. A trustee is not liable for loss, destruction, or deterioration of the trust property unless a contract specifies otherwise. Illustrations clarify that trustees are not liable for losses due to dishonored bills, insolvent bankers, or reasonable decisions made in good faith. However, trustees are liable for losses caused by lack of diligence, such as failing to advertise a sale, neglecting insurance payments, or allowing mismanagement by co-trustees.
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