TaxTMI 
TaxTMI 
Liability for breach of trust.
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....y, being competent to contract, has himself, without coercion or undue influence having been brought to bear on him, concurred in the breach, or subsequently acquiesced therein, with full knowledge of the facts of the case and of his rights as against the trustee. A trustee committing a breach of trust is not liable to pay interest except in the following cases :-- (a) where he has actually rec....
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.... to account, at the option of the beneficiary, either for compound interest (with half-yearly rests) at the same rate, or for the net profits made by such employment. Illustrations (a) A trustee improperly leaves trust-property outstanding, and it is conse­quently lost: he is liable to make good the property lost, but he is not liable to pay interest thereon. (b) A bequeaths a house to B ....
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....he trust-money when the investment should have been made, and the intermediate dividends and interest thereon. (e) The instrument of trust directs the trustee to invest trust-money either in any of such securities or on mortgage of immovable property. The trustee does neither. He is liable for the principal money and interest. (f) The instrument of trust directs the trustee to invest trust-mon....