Personal liability of legal representative applies when signing negotiable instruments unless expressly limited to estate assets. A legal representative who signs a promissory note, bill of exchange, or cheque incurs personal liability on that instrument unless the representative ... Summary
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Personal liability of legal representative applies when signing negotiable instruments unless expressly limited to estate assets.
A legal representative who signs a promissory note, bill of exchange, or cheque incurs personal liability on that instrument unless the representative expressly restricts liability to the assets received in the estate; to avoid personal exposure the representative must include an unambiguous limitation of liability to estate assets when executing negotiable instruments.
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