(1) It is hereby declared that the powers given by this Act to any person, and
the covenants, provisions, stipulations, and words which under this Act are to
be implied in any instrument, or are by this Act made applicable to any
contract for sale or other transaction, are and shall be deemed in law proper
powers, covenants, provisions, stipulations, and words to be given by, or to
be contained in, any such instrument, or to be adopted in connection with, or
applied to, any such contract or transaction; and a solicitor or
licensed conveyancer shall not be deemed guilty of neglect or breach of duty,
or become in any way liable, by reason of his or her omitting, in good faith,
in any such instrument, or in connection with any such contract or
transaction, to negative the giving, inclusion, implication, or application of
any of those powers, covenants, provisions, stipulations, or words, or to
insert or apply any others in place thereof in any case where the provisions
of this Act would allow of his or her doing so.
(2) But nothing in this Act
shall be taken to imply that the insertion in any such instrument, or the
adoption in connection with, or the application to, any contract or
transaction of any further or other powers, covenants, provisions,
stipulations, or words, is improper.
(3) Where the solicitor or
licensed conveyancer is acting for trustees, executors, or other persons in a
fiduciary position, those persons shall also be protected in like manner.
(4)
Where such persons are acting without a solicitor or licensed conveyancer,
they shall also be protected in like manner.
