§ 2212. Accounting for profit and loss
Terms Used In N.Y. Surrogate's Court Procedure Law 2212
- Fiduciary: A trustee, executor, or administrator.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
No profit shall be made by a fiduciary by the increase nor shall he sustain any loss by the decrease or loss without his fault of any part of the estate, but he shall be charged with the increase and credited for the decrease or loss on the settlement of his accounts.