Section 158: Ademption where stock, specifically bequeathed, does not exist at testator’s death
The Succession Act · Federal Acts · Part VI · in_force
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Ademption where stock, specifically bequeathed, does not exist at testator’s death. Where stock which has been specifically bequeathed does not exist at the testator’s death, the legacy is adeemed. Illustration A bequeaths to B my capital stock of 1, 000 in East India Stock”: “my promissory notes of the [Federal Government] for 10, 000 rupees in their 4 per cent. loan”. A sells the stock and the notes. The legacies are adeemed.
Related sections
Section 157: Order of payment where portion of fund specifically bequeathed to one legatee, and legacy charged. on same fund to another, and, testator having received portion of that fund, remainder insufficient to pay both legaciesSection 159: Ademption pro tento where stock, specifically bequeathed, exists in part only at testator’s deathSection 156: Ademption pro tento by testator’s receipt of portion of entire fund of which portion has been specifically bequeathedSection 160: Non-ademption of specific bequest of goods described as connected with certain place, by reason of removalSection 155: Ademption pro tanto by testator’s receipt of part of entire thing specifically bequeathedSection 161: When removal of thing bequeathed does not constitute ademption
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