LawgistThe Indian Succession Act
143Bequest of certain sum where stocks, etc., in which invested are described
Where a certain sum is bequeathed, the legacy is not specific merely because the stock, funds or securities in which it is invested are described in the will.
Illustration
A bequeaths to B--
"10,000 rupees of my funded property":
"10,000 rupees of my property now invested in shares of the East Indian Railway Company":
"10,000 rupees, at present secured by mortgage of Rampur factory",
No one of these legacies is specific.
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CHAPTER XIV.--Of Specific Legacies
- 142 Specific legacy defined
- 143 Bequest of certain sum where stocks, etc., in which invested are described
- 144 Bequest of stock where testator had, at date of will, equal or greater amount of stock of same kind
- 145 Bequest of money where not payable until part of testator’s property disposed of in certain way
- 146 When enumerated articles not deemed specifically bequeathed
- 147 Retention, in form, of specific bequest to several persons in succession
- 148 Sale and investment of proceeds of property bequeathed to two or more persons in succession
- 149 Where deficiency of assets to pay legacies, specific legacy not to abate with general legacies
