§ 166. Powers of trustees. The said trustees shall have power:

1. To sue in their own names or otherwise, and recover all the estate,
debts and things in action, belonging or due to such debtor, in the same
manner and with the like effect as such debtor might or could have done
if no trustees had been appointed, and no set-off shall be allowed in
any such suit, for any debt, unless it was owing to such creditor, by
such debtor, before presenting the petition of the insolvent under said
articles. But no suit in equity shall be brought by assignees of
insolvents under the third or fourth articles, without the consent of
the creditors having a major part of the debts which shall have been
exhibited and allowed, unless the sum in controversy exceeds five
hundred dollars;

2. To take into their hands, all the estate of such debtor, whether
delivered to them, or afterwards discovered; and all books, vouchers and
securities relating to the same;

3. From time to time, to sell at public auction, all the estate, real
and personal, vested in them, which shall come to their hands, after
giving at least fourteen days' public notice of the time and place of
sale, and also publishing the same for two weeks in a newspaper, printed
in the county, where the sale shall be made, if there be one;

4. To allow such credit on the sale of real property by them, as they
shall deem reasonable, not exceeding eighteen months, for not more than
three-fourths of the purchase money; which credit shall be secured by a
bond or note of the purchaser, and a mortgage on the property sold;

5. On such sales, to execute the necessary conveyances and bills of
sale;

6. To redeem all real or personal property subject to a security
interest or mortgage, and to satisfy any judgments which may be an
incumbrance on any property so sold by them; or to sell such property
subject to such mortgages, security interests or judgments;

7. To settle all matters and accounts between such debtor, and his
debtors, or creditors, and to examine any person touching such matters
and accounts, on oath, to be administered by either of them;

8. Under the order of the court appointing them, to compound with any
person indebted to such debtor, and thereupon to discharge all demands
against such person.