A Warning to trustees: The sting in the tail of warranties
Almost all trustees will have to consider, from time to time, whether to sell some or all of the assets which form part of the trust fund which they manage. Frequently they will not be asked to give warranties upon a sale. For example, if they are proposing to sell securities quoted upon a stock exchange, there will be question of giving a warranty. Similarly, if real property is sold, it is most unlikely that a warranty will be sought, although trustees may have to make representations arising from pre-contract enquiries.
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