A bequeaths to B "the interest of his 5 per cent. promissory notes of the Central Government". No other…
Illustration (i) to section 172 holds that "B is entitled to A's 5 per cent. promissory notes of the Central Government". Under section 172, where the interest or produce of…
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A bequeaths to B "the interest of his 5 per cent. promissory notes of the Central Government". No other clause in the will deals with those notes. What is B entitled to?
Answer and explanation
Correct answer A
Illustration (i) to section 172 holds that "B is entitled to A's 5 per cent. promissory notes of the Central Government". Under section 172, where the interest or produce of a fund is bequeathed and the will gives no sign that enjoyment is to be limited in time, "the principal, as well as the interest, shall belong to the legatee". A gift of interest without limit is a gift of the fund.