IS Act 158Chapter VI · Chapter XVI.--Of Ademption of Legacies
Section 158 · Ademption where stock, specifically bequeathed, does not exist at testator?s death
Text size — level 1 of 4
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 Central Government for 10,000 rupees in their 4 per cent. loan."
A sells the stock and the notes. The legacies are adeemed.
Illustration
A bequeaths to B--
"my capital stock of 1,000£ in East India Stock":
"my promissory notes of the Central Government for 10,000 rupees in their 4 per cent. loan."
A sells the stock and the notes. The legacies are adeemed.
Your private note on this section
Only you can see this note.