This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
A trustee is one in whom is vested the legal title to property, the equitable interest in which belongs to another.1 A trustee has as such no power to bind a cestui que trust personally.2 Thus a cestui que trust is not liable personally to an attorney employed by a trustee.3 If the beneficiaries authorize the trustee to contract on their behalf they are personally liable on his contract.4 This liability exists, however, by reason of his character of agent and not by reason of his character of trustee. Thus trustees of a dry trust cannot bind their beneficiaries by assuming a mortgage, so as to recover from them for money paid on such mortgage.5
 
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