A bequeaths to B "the sum of 2,000 invested in Consols in the names of trustees for A". The trustees…
Illustration (ii) to section 163 is among the cases where "No one of these legacies has been adeemed". The transfer from the trustees to A is a change in the course of…
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A bequeaths to B "the sum of 2,000 invested in Consols in the names of trustees for A". The trustees later transfer the 2,000 into A's own name. What is the effect on the legacy?
Answer and explanation
Correct answer C
Illustration (ii) to section 163 is among the cases where "No one of these legacies has been adeemed". The transfer from the trustees to A is a change in the course of executing the instrument under which the fund was held. Section 163 says such a change does not adeem the legacy.