Cumulative and substitutional legacies and devises, Financial Accounting

Cumulative and substitutional legacies and devises

Where a will makes two gifts of unequal amounts to the same person, they are assumed, in the absence of a contrary indication, to be cumulative. Where a will makes two gifts of equal amount to the same person, the presumption is that the second was in substitution for the first, unless evidence to the contrary is shown. If two clauses of a will are irreconcilable, so that they cannot stand together, the last shall prevail.  Obvious clerical errors can be corrected.

Posted Date: 12/13/2012 4:31:07 AM | Location : United States







Related Discussions:- Cumulative and substitutional legacies and devises, Assignment Help, Ask Question on Cumulative and substitutional legacies and devises, Get Answer, Expert's Help, Cumulative and substitutional legacies and devises Discussions

Write discussion on Cumulative and substitutional legacies and devises
Your posts are moderated
Related Questions
The intestate leaves one surviving spouse and children The surviving spouse is entitled to: a. The personal and household effects of the deceased absolutely; b. A life inte

zorn conducted his professional practice through zorn, inc. the corporation uses a fiscal year ending september 30 even though the business purpose test for a fiscal year cannot be

Consider two individuals with endowments of 60 hours per week of leisure, nonlabour income of $Y per week, and a wage of $7.50.  At this wage assume that workers are constrained by

Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June: a. Purchased, o

Determine total payment: Mrs. Smith is a 70-year-old and hospitalized for a Kidney Transplant procedure .   General Hospital is a large urban hospital in San Francisco that

Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell

Ademption If property which has been specifically bequeathed does not belong to the testator at the time of his death, or has been converted into property of a different kind,

GHH, Inc. has two classes of stock authorized: $100,000 par preferred and $1.00 par value common. As the begining of 20C, 200 shares of preffered stock and 300,000 shares of common

Q. Show the Basis of weightings? (i) Both costs of capital (Ke and Kd) as well as the WACC have been calculated using current   ex-dividend (ex-interest) market values rather t