Any fiduciary may compromise any liability due to or from him, provided that such compromise be ratified and approved by a court of competent jurisdiction, all parties in interest being before such court by proper process. When such compromise shall have been so ratified and approved, it shall be binding on all parties in interest before such court. Nothing contained in this section shall affect the right of indemnity or of contribution among the parties.
Va. Code Ann. § 8.01-425
How fiduciaries may compromise liabilities due to or from them
Applied in 1 court decision — leading case Crawford v. Loving (1979)
Most recently applied in Crawford v. Loving (September 1979)
Code 1950, §§ 8-171, 8-173; 1977, c. 617.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.