For the purpose of performing his functions under this Chapter, the bankruptcy trustee may, by his official name—

(a) hold property of every description;

(b) make contracts;

(c) sue and be sued;

(d) enter into engagements in respect of the estate of the bankrupt;

(e) employ persons to assist him;

(f) execute any power of attorney, deed or other instrument; and

(g) do any other act which is necessary or expedient for the purposes of or in connection with the exercise of his rights.