Revocation, alteration and revival of a will, Financial Accounting

Assignment Help:

Revocation, alteration and revival of a will

1. A will may be revoked or altered by the maker of it at any time when he is competent to dispose of his free property by will.  (A will is said to be ambulatory).

2. A will is revoked by the later marriage of the maker, unless the will is expressed to be made in contemplation of marriage with a specific person (and the subsequent marriage is to that person).

3. A will or codicil, or any part of it, can be revoked only by making another will or codicil declaring an intention to revoke it, or by burning, tearing or otherwise destroying the will with the intention of revoking it by the testator, or some other person at his direction, or by subsequent marriage as in (ii) above.

4. A written will can never be revoked by an oral will.

5. No obliteration, interlineation or other alteration made in a written will after the execution of it (signed by the testator and witnesses) shall have any effect unless the alteration is signed and attested as required for a will.  If a will is so altered, then the will is deemed to be duly executed if the signature of the testator and the subscription of the witnesses is made in the margin or on another part of the will opposite or near to the alteration, or is referred to in a memorandum written at the end or some other part of the will and is so signed and attested.

6. Where a typewritten or printed will purports to have been executed by the filling in of any blank spaces, there shall be a presumption that the will has been duly executed.

A will which has been wholly revoked in any manner cannot be revived except by re—executing the will.  Where any part of the will has been revoked, that part shall not be revived otherwise then the re—execution of that part, or by a subsequent will or codicil showing an intention to revive it.


Related Discussions:- Revocation, alteration and revival of a will

Determine the investment''s net present value, Question Capital Expenditure...

Question Capital Expenditure Decisions and Investment Criteria Bodmin plc Bodmin plc is a highly profitable electronics company that manufactures a range of innovative produ

ACCRUED INTEREST, IF I HAVE A LOAN AND ACCRUED INTEREST .THEN ACCRUED INTER...

IF I HAVE A LOAN AND ACCRUED INTEREST .THEN ACCRUED INTEREST GOES ON WHICH SIDE- DEBIT OR CREDIT ?

Assume the debt financing would cost 15 percent, Seattle Health Plans curre...

Seattle Health Plans currently uses zero debt financing.  Its operating income (EBIT) $1 million, and it pays taxes at a 40 percent rate.  It has $5 million in assests and because

Calculate the pv and npv, Question 1 Suppose you take out a loan of $10...

Question 1 Suppose you take out a loan of $10,000, repayable by five equal annual instalments. The interest rate is 10% per year. (a) How much do you need to repay per year

How much of the existing cash balance, As of January 1, 2011, the partnersh...

As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: Cash 80,000 non cash

Scope, scope of financial accounting

scope of financial accounting

Goodwill, GOODWILL This is defined as “the difference between the value o...

GOODWILL This is defined as “the difference between the value of a business as a whole and the fair value of its net separable assets”. Goodwill in practical sense is the advant

Prepare a cash budget, Question: The accountant of a company is prepari...

Question: The accountant of a company is preparing the cash budget for the first six months of 2011 and obtains the following information: Sales on credit, variable costs an

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd