powers of sale and exchange
- powers of sale and exchange
-
Literally, inclusive of any power conferred upon another to effect either a sale or exchange of property.
In the English law, the term has a definite meaning and implies that the proceeds of the sale are to be reinvested in another estate of the same character, and to be settled to the same uses. In practice they are often exercised in aid of, and not to interfere with, the ultimate limitations, and to carry out the intention of the parties. Rail v Dotson, 22 Miss (14 Smedes & M) 176, 184.
Ballentine's law dictionary.
Anderson, W.S..
1998.
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