8.01-425 - How fiduciaries may compromise liabilities due to or from them. - Virginia Statutes

§ 8.01-425. How fiduciaries may compromise liabilities due to or from them.

Any fiduciary may compromise any liability due to or from him, provided thatsuch compromise be ratified and approved by a court of competentjurisdiction, all parties in interest being before such court by properprocess. When such compromise shall have been so ratified and approved, itshall be binding on all parties in interest before such court. Nothingcontained in this section shall affect the right of indemnity or ofcontribution among the parties.

(Code 1950, §§ 8-171, 8-173; 1977, c. 617.)