In A's lifetime a call of fifty rupees per share is made on his ten railway shares, payable in three…
Illustration (v) to section 170 holds that "A's estate must pay the first instalment, and B, if he accepts the legacy, must pay the remaining instalments". Section 170 looks…
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In A's lifetime a call of fifty rupees per share is made on his ten railway shares, payable in three instalments. A bequeaths the shares to B and dies after the first instalment fell due but before the second, without paying the first. How are the instalments borne?
Answer and explanation
Correct answer A
Illustration (v) to section 170 holds that "A's estate must pay the first instalment, and B, if he accepts the legacy, must pay the remaining instalments". Section 170 looks at when each payment falls due, not when the call was made. Only the first instalment was due at A's death.