demonstrative legacy


demonstrative legacy
A legacy which differs from a general legacy in that it refers to a particular fund or particular property as a primary source of payment, the two essentials of such a legacy being an unconditional gift in the nature of a general legacy and a designation of a particular fund or particular property as a primary source of payment but not such a designation as evinces an intent to relieve the general estate from liability if the particular fund or particular property fails as a source of payment. Nusly v Curbs, 36 Colo 464, 85 P 846; Rogers v Rogers, 67 SC 168, 45 SE 176.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • demonstrative legacy — see legacy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. demonstrative legacy …   Law dictionary

  • demonstrative legacy — ➔ legacy * * * demonstrative legacy UK US noun [C] LAW ► an amount of money, shares, etc. from a particular bank account that someone leaves in their will (= a legal document in which they state what should be done with their money and property… …   Financial and business terms

  • demonstrative legacy — noun : a legacy made payable out of a designated fund or asset …   Useful english dictionary

  • legacy — leg·a·cy / le gə sē/ n pl cies [Medieval Latin legatio, from Latin legare to bequeath]: a gift of property by will; specif: a gift of personal property by will: bequest see also ademption compare devise conjoint leg …   Law dictionary

  • demonstrative — I (expressive of emotion) adjective communicative, effusive, emotional, emotive, excitable, expressive, fanatical, fervent, feverish, fierce, fiery, free in expression, furious, histrionic, maudlin, overflowing, overwrought, passionate, prone to… …   Law dictionary

  • legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

  • legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

  • legacy — ▪ I. legacy leg‧a‧cy 1 [ˈlegəsi] noun legacies PLURALFORM [countable] 1. a situation that exists as a result of things that happened at an earlier time: • Hotels are in oversupply, a legacy of the last building boom. 2 …   Financial and business terms

  • legacy, demonstrative — n. A bequest of money that is to be paid out of a specific fund. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • demonstrative bequest — A testamentary gift which, by its terms, must be paid from a specific fund; e.g. bequest of one thousand dollars to be paid from testator s shares of stock in X Corporation. Hence, it is partly a general bequest and partly a specific bequest. See …   Black's law dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.