7Power to sell

7 Power to sell

7 Power to sell

The trustees may, with the consent of the synod, sell any property vested in them by public auction or private contract in one lot or several lots, and upon such terms, stipulations, and conditions as to title, evidence, price, and payment thereof, whether in cash or on terms or otherwise, as the synod may in its absolute discretion direct, and may rescind or vary any contract for sale, and resell without being answerable for any loss or damage, and when sold convey or transfer or assure the said property or any part thereof, and thereupon the same shall vest in the purchaser thereof, his heirs, executors, administrators, or assigns, according to the estate or interest of the trustees therein, absolutely freed and discharged from the trusts affecting the same, and the receipt in writing of a majority of the trustees for the purchase money for any property sold under this Act shall absolutely discharge the purchaser thereof from the purchase money payable by him, and shall exonerate him from seeing to the application of the said purchase money and from all liability as to the misapplication or non-application thereof, and shall be conclusive evidence that such consent to sell as aforesaid has been given by the synod.