law: Indian Trusts Act, 1882 
  43. Power to compound, etc. 
  Two or more trustees acting together may; if and as they think
  
  fit,- 
  (a) accept any composition or any security for any debt or for
  
  any property claimed;
  (b) allow any time for payment of any debt;
  (c) compromise, compound, abandon, submit to arbitration or
  
  otherwise settle any debt, account, claim or thing whatever relating to the
  
  trust; and
  (d) for any of those purposes, enter into, give, execute and do
  
  such agreements, instruments of composition or arrangement, releases and other
  
  things as to them seem expedient, without being responsible for any loss
  
  occasioned by any act or thing so done by them in good faith.
  The powers conferred by this section on two or more trustees
  
  acting together may be exercised by a sole acting trustee when by the
  
  instrument of trust, if any, a sole trustee is authorized to execute the trusts
  
  and powers thereof.
  This section applies only if and as far as a contrary intention
  
  is not expressed in the instrument of trust, if any, and shall have effect
  
  subject to the terms of that instrument and to the provisions therein
  
  contained.
  This section applies only to trusts created after this Act comes
  
  into force.