2154. Power to compound liabilities
A personal representative, or 2 or more trustees acting together, or, subject to the restrictions imposed in regard to receipts by a sole trustee not being a trust corporation, a sole acting trustee where by the instrument, if any, creating the trust, or by law, a sole trustee is authorised to execute the trusts and powers reposed in him or her, may, if and as he or she or they think fit—
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(a) accept any property, movable or immovable, before the time at which it is made transferable or payable; or
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(b) sever and apportion any blended trust funds or property; or
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(c) pay or allow any debt or claim on any evidence that he or they think sufficient; or
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(d) accept any composition or any security, movable or immovable, for any debt or for any property, movable or immovable, claimed; or
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(e) allow any time for payment of any debt; or
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(f) compromise, compound, abandon, submit to arbitration, or otherwise settle any debt, account, claim, or thing whatever relating to the testator's or intestate's estate or to the trust,
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and for any of those purposes may enter into, give, execute, and do such agreements, instruments of composition or arrangement, releases, and other things as to him or her or them seem expedient, without being responsible for any loss occasioned by any act or thing so done by him or her or them in good faith.