Louisiana Revised Statutes 9:2203 – Balancing losses against gains
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Terms Used In Louisiana Revised Statutes 9:2203
- Trustee: A person or institution holding and administering property in trust.
A trustee who is liable for a loss occasioned by one breach of trust cannot reduce the amount of his liability by deducting the amount of a gain that has accrued through another distinct breach of trust; but if the two breaches of trust are not distinct, a trustee is accountable only for the net gain or chargeable only for the net loss resulting therefrom.