New Jersey Equity Reports Volume 45

New Jersey Equity Reports Volume 45

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...his beneficiary until he had first reimbursed her for her outlay in the purchase of his certificate of membership and the payments she subsequently made to preserve his standing as a member of the complainant corporation. At first view it would seem to be unjust that he should be permitted to make a gilt to another of the benefit her money purchased, except on condition that he first re-inibursed her for such outlay. A decree will be made directing the payment of the fund to Hannah. She is also entitled to costs. Roar.-: a'r H. NEILSON and WILLIAM D. Cnnrwoon, executors of the will of Mary A. McClelland, deceased, MARY F. BIsHoP, executrix of the will of Alexander McC. Bishop, deceased, et al. 1. The general policy of the law and the rules of interpretation require that legacies in all cases, unless clearly inconsistent with the intention of the testator, should be held to be vested rather than contingent. 2. Where the time specified in the bequest is annexed to the payment only, the legacy vests immediately on the death of the testator, but where the time is annexed to the gift itself, the legacy does not vest until such time arrives. 3. The fact that the enjoyment is uncertain never interferes with the vesting of an estate. When the contingency is not in the person, but in the event when enjoyment shall commence, or in the time of the enjoyment, the interest will be considered vested. 4. A gift to trustees, for the sole use and benefit of their cesluis que trust, will be regarded in equity as equivalent to a direct gift to the cealuis qua trust. 5. Where a. gift is made to two, subject to a condition that if both die without issue before the day of payment, the subject of the gift shall revert to the testator's estate, no reverter will...show more

Product details

  • Paperback | 354 pages
  • 189 x 246 x 19mm | 630g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123690186X
  • 9781236901866