Section 382
Liability for contract
ActIn forceProvision 382 of 621
Section 382
(1)
A receiver or receiver and manager is personally liable for a contract entered into by him in the exercise of any of his powers unless specifically provided otherwise in the instrument appointing the receiver or receiver and manager.
(2)
The terms of a contract referred to in subsection (1) may exclude or limit the personal liability of the receiver or receiver and manager other than a receiver or receiver and manager appointed by the Court.
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