Trustee set-off prohibition prevents using gains from one trust asset to offset losses from a separate breach in another asset. A trustee who causes loss by a breach of trust in respect of one portion of the trust property cannot set-off against that liability a gain that has accrued to another portion of the trust property through a separate and distinct breach; each breach's gains and losses are treated separately for liability and accounting purposes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustee set-off prohibition prevents using gains from one trust asset to offset losses from a separate breach in another asset.
A trustee who causes loss by a breach of trust in respect of one portion of the trust property cannot set-off against that liability a gain that has accrued to another portion of the trust property through a separate and distinct breach; each breach's gains and losses are treated separately for liability and accounting purposes.
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