A bequeaths to B his interest in certain policies of life assurance. During his lifetime A receives the…
Illustration (ii) to section 154 holds that "The legacy is adeemed". The gift was of a right to receive money from the insurer, and section 154 adeems such a specific…
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A bequeaths to B his interest in certain policies of life assurance. During his lifetime A receives the amount of the policies. What is B's position?
Answer and explanation
Correct answer D
Illustration (ii) to section 154 holds that "The legacy is adeemed". The gift was of a right to receive money from the insurer, and section 154 adeems such a specific bequest when the testator himself receives the money. B has no claim to the amount on the general assets.