« 이전계속 »
· All the shares in the Bank of Bengal which he may possess at the time of his death.'
• All the money which he has in the 51 per cent. loan of the Government of India.'
*All the Government securities he shall be entitled to at the time of his decease.'
Each of these legacies is specific.
(6) A having Government promissory notes for 10,000 rupees, bequeaths to his executors Government promissory notes for 10,000 rupees in trust to sell ’ for the benefit of B.
The legacy is specific.
(c) A having property at Benares, and also in other places, bequeaths to B all his property at Benares.
The legacy is specific.
A directs his zamíndárí of X to be sold and the proceeds to be invested for the benefit of B.
Each of these bequests is specific?.
(e) A by his Will charges bis zamíndarí of Y with an annuity of 1,000 rupees to C during his life, and subject to this charge he bequeaths the zamíndárí to D.
Each of these bequests is specific. (f) A bequeaths a sum of money to buy a house in Calcutta
To buy an estate in Zillah Fureedpore for B.
10,000 rupees worth of Government securities.' An annuity of 500 rupees.'
2,000 rupees, to be paid in cash.'
“So much money as will produce 5,000 rupees 4 per cent. Government securities.'
These bequests are not specifico.
(g) 4, having property in England and property in India, bequeaths a legacy to B, and directs that it shall be paid out of
* Every bequest of immoveable property is specific.
the property which he may leave in India. He also bequeaths a legacy to C, and directs that it shall be paid out of the property which he may leave in England.
No one of these legacies is specific".
130. Where a sum certain is bequeathed, the legacy is not Bequest of specific merely because the stocks, funds, or securities in which
tain where it is invested are described in the Will.
in which it Illustration.
are de A bequeaths to B
scribed. • 10,000 rupees of his funded property.'
10,000 rupees of his property now invested in Shares of the East Indian Railway Company.'
* 10,000 rupees, at present secured by mortgage of Rampore Factory.'
No one of these legacies is specific.
131. Where a bequest is made in general terms, of a certain Bequest of amount of any kind of stock, the legacy is not specific merely where tesbecause the testator was at the date of his Will possessed of tator hadat
date of Will stock of the specified kind, to an equal or greater amount than equal or the amount bequeathed.
amount of Illustration.
same kind. A bequeaths to B 5,000 rupees five per cent. Government securities. A had at the date of the Will five per cent. Government securities for 5,000 rupees ?.
The legacy is not specific.
132. A money legacy is not specific merely because the Bequest of Will directs its payment to be postponed until some part of not to be the property of the testator shall have been reduced to a paid until
some part certain form, or remitted to a certain place 3.
has been A bequeaths to B 10,000 rupees, and directs that this legacy in certain
disposed of shall be paid as soon as A's property in India shall be realized in
the general legacies. Moreover, if it * The illustration assumes that be to a person in being, and of an there is nothing in the will to show object producing income, it carries that A intended B to take the iden- the income from the testator's death tical securities.
(sec. 309). On the other hand, if the The distinction between specific specific legacy fail by the ademption and general legacies is important; or inadequacy of its object, the lefor, as we see from sec. 136, if there gatee will not be entitled to any rebe a deficiency of assets, a specific compense or satisfaction out of the legacy will not be liable to abate with general personal estate.
When enu- 133. Where a Will contains a bequest of the residue of the merated
testator's property along with an enumeration of some items articles not to be of property not previously bequeathed, the articles enumerated deemed specifically shall not be deemed to be specifically bequeathed. bequeathed. Retention,
134. Where property is specifically bequeathed to two or in forun, of more persons in succession, it shall be retained in the form in specific be. quest to
which the testator left it, although it may be of such a nature
that its value is continually decreasing. persons in
Illustrations. (a) A having a lease of a house for a term of years, 15 of which were unexpired at the time of his death, has bequeathed the lease to B for his life, and after B's death to C. B is to enjoy the property as A left it, although if B lives for 15 years, C can take nothing under the bequest.
(b) A having an annuity during the life of B, bequeaths it to C for his life, and after C's death, to D. C is to enjoy the annuity as A left it, although, if B dies before D, D can take nothing under
the bequest. Sale and 135. Where property comprised in a bequest to two or investment more persons in succession is not specifically bequeathed, it of proceeds of property shall in the absence of any direction to the contrary be sold, bequeathed and the proceeds of the sale shall be invested in such securities more per- as the High Court may, by any general rule to be made from succession. time to time, authorize or direct, and the fund thus constituted
shall be enjoyed by the successive legatees according to the terms of the Will.
Illustration. A, having a lease for a term of years, bequeaths ‘all his property' to B for life, and after B’s death, to C. The lease must be sold, and the proceeds invested as stated in the text, and the annual income arising from the fund is to be paid to B for life. At
B's death the capital of the fund is to be paid to C. Where 136. If there be a deficiency of assets to pay legacies”, deficiency of assets
a specific legacy is not liable to abate with the general
legacies. legacies, specific 1 But when the assets not speci. in proportion to their respective values. legacy not fically bequeathed are insufficient to This should have been expressly proliable to pay all the debts and necessary ex
vided. It seems assumed in sec. abate with penses, then the specific legacies abate 288. general legacies.
OF DEMONSTRATIVE LEGACIES 1.
137. Where a testator bequeaths a certain sum of money Demonor a certain quantity of any other commodity, and refers to a
legacy departicular fund or stock so as to constitute the same the pri- fined. mary fund or stock out of which payment is to be made, the legacy is said to be demonstrative.
Explanation. The distinction between a specific legacy and a demonstrative legacy consists in this, that where specified property is given to the legatee, the legacy is specific; where the legacy is directed to be paid out of specified property, it is demonstrative 2.
Illustrations. (a) A bequeaths to B 1,000 rupees, being part of a debt due to him from W. He also bequeaths to C 1,000 rupees to be paid out of the debt due to him from W. The legacy to B is specific; the legacy to C is demonstrative.
(6) A bequeaths to B'ten bushels of the corn which shall grow in his field of Greenacre.'
'80 chests of the Indigo which shall be made at his factory of Rampore.
10,000 rupees out of his five per cent. promissory notes of the Government of India.'
An annuity of 500 rupees 'from his funded property.'
' 1,000 rupees out of the sum of 2,000 rupees due to him by C!
? This Part applies to the wills of Hindús etc. in the Lower Provinces and the towns of Madras and Bombay, Act XXI of 1870.
A demonstrative legacy is so far general that if the fund be called in or fail the legatee will not be deprived of his legacy, but be pernitted to receive it out of the general assets ; but it is so far specific, that it will not be liable to abate with general legacies upon a deficiency of assets (Wms.
Exors. 1043). It is, however, liable
A demonstrative legacy does not carry interest or income from the testator's death, Mullins v. Smith, 1 Dr. & Sm. 204, 210. Otherwise in the case of a specific legacy, infra, sec.
Ś See above, sec. 109, ill. (a), No. 15.
A bequeaths to B an annuity, and directs it to be paid out of the rents arising from his taluk of Rámnagar.
A bequeaths to B'10,000 rupees out of his estate at Rámnagar,' or charges it on his estate at Rámnagar.
' 10,000 rupees, being his share of the capital embarked in a certain business.'
Each of these bequests is demonstrative. Order of 138. Where a portion of a fund is specifically bequeathed payment and a legacy is directed to be paid out of the same fund, the legacy portion specifically bequeathed shall first be paid to the legatee, directed to be paid out and the demonstrative legacy shall be paid out of the residue of fund of the fund, and so far as the residue shall be deficient, out of of which part is spe- the general assets of the testator, cifically bequeathed.
Illustration. A bequeaths to B 1,000 rupees, being part of a debt due to him from W. He also bequeaths to C 1,000 rupees to be paid out of the debt due to him from W. The debt due to A from W is only 1,500 rupees; of these 1,500 rupees, 1,000 rupees belong to B, and 500 rupees are to be paid to C. C is also to receive 500 rupees out of the general assets of the testator.