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Trustees Are Jointly or Severally Liable for the Actions of Other

question 5

Essay

Trustees are jointly or severally liable for the actions of other trustees.


Definitions:

Market Price

The current price at which an asset or service can be bought or sold in the open market.

Agreed Price

The price that both buyer and seller have consented to in a transaction or contract.

Liquidated Damages

A bona fide estimate of the monetary damages that would flow from the breach of a contract.

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