limited power of appointment
- A power of appointment which is exercisable only in favor of persons or a class of persons designated or described in the instrument creating the power. Marx v Rice, 1 NJ 574, 65 A2d 48, 9 ALR2d 584. In Pennsylvania, a general power of appointment is not converted into a special power by reason of spendthrift provisions protecting the income during the lifetime of the donee. Legg's Estate v Commissioner (CA4) 114 F2d 760.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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limited power of appointment — see power of appointment Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
limited power of appointment — Power of appointment is limited when it is exercisable only in favor of persons or a class of persons designated in the instrument creating the power. Johnstone v. Commissioner of Internal Revenue, C.C.A.9, 76 F.2d 55, 57. See also power of… … Black's law dictionary
power of appointment — power of appointment: a power granted under a deed or will authorizing the donee to dispose of an estate in a specified manner for the benefit of the donee or of others general power of appointment: a power of appointment which the donee may… … Law dictionary
power of appointment — Authority enabling one person to dispose of an interest which is vested in another. Re Zanatta, 99 NJ Eq 339, 131 A 515. A liberty or authority reserved by, or limited to, a person to dispose of real or personal property for his own benefit, or… … Ballentine's law dictionary
special power of appointment — A power of appointment under which the donee of the power is restricted to passing on the property to certain individuals or class of individuals designated or described in the instrument which creates the power. Marx v Rice, 1 NJ 574, 65, A2d 48 … Ballentine's law dictionary
general power of appointment — A power of appointment exercisable without limitation as to the person appointed, except as to the rule of some jurisdic tions which limit exercise to exercise by will, in which event the donee cannot appoint himself, although he can appoint his… … Ballentine's law dictionary
appointment — I (act of designating) noun allocation, allotment, assignment, authorization, certification, charter, choice, decree, delegation, deputation, designation to office, dispensation, distribution, installation, naming, nomination, order, ordination,… … Law dictionary
power — The right, ability, authority, or faculty of doing something. Authority to do any act which the grantor might himself lawfully perform. Porter v. Household Finance Corp. of Columbus, D.C.Ohio, 385 F.Supp. 336, 341. A power is an ability on the… … Black's law dictionary
power — pow·er n 1: capability of acting or of producing an effect parties of unequal bargaining power 2 a: authority or capacity to act that is delegated by law or constitution often used in pl. commerce power often cap C&P: the power delegated to… … Law dictionary
National Power Corporation — (NAPOCOR) Type State owned Industry Electricity generation/Energy generation Founded November 3, 1936 … Wikipedia