Indian Trusts Act : Power to give receipts Indian Bare Acts :

Indian Trusts Act,1882

Act No : 2

Section : Power to give receipts

42. Power to give receipts.-Any trustees or trustee may give areceipt in writing for any money, securities or other moveableproperty payable, transferable or deliverable to them or him byreason, or in the exercise, of any trust or power ; and, in theabsence of fraud, such receipt shall discharge the person paying,transferring or delivering the same therefrom, and from seeing to theapplication thereof, or being accountable for any loss ormisapplication thereof.