An estate is bequeathed to A until he takes advantage of any law for the relief of insolvent debtors,…
Illustration (vii) to section 120 holds that "B's interest in the bequest is contingent until A takes advantage of such a law." Whether A will ever seek insolvency relief is…
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An estate is bequeathed to A until he takes advantage of any law for the relief of insolvent debtors, and after that event to B. What is B's interest before A does so?
Answer and explanation
Correct answer C
Illustration (vii) to section 120 holds that "B's interest in the bequest is contingent until A takes advantage of such a law." Whether A will ever seek insolvency relief is a specified uncertain event. Under section 120 B's legacy therefore does not vest until that event happens.