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  Where any part of the will has been revoked, that part shall not be revived otherwise then the re—execution of that part, or by a subsequent will or codicil showing an intention to revive it.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

Reason for incorporating statements into annual reports, what is the reason...

what is the reason of incorporating 1. corporate governance statement 2. audit committee statement 3. internal audit statement into annual reports?

Prepare a cash budget, The following information for the six months ended 3...

The following information for the six months ended 31 December 2009 relates to the business of Mr N Morris: a) Opening cash (including bank) balance Rs 1,200 b) Production in unit

What is the amount of liabilities, Craig's Cars has assets of $4,550 and st...

Craig's Cars has assets of $4,550 and stockholders' equity of $3,200. What is the amount of liabilities? What is the amount of claims?

Major qualitative characteristics of accounting information, Four major qua...

Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio

What is the number of shares, Terry Corporation had 300,000 shares of commo...

Terry Corporation had 300,000 shares of common stock outstanding at December 31, 2010. In addition, it had 90,000 stock options outstanding, which had been granted to certain execu

Qualitative characteristics , Since 1968, Dracula Limited has traded in Don...

Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum

Plans to sell the forest, Washington-Pacific invests $2 million to take a t...

Washington-Pacific invests $2 million to take a tract of land and plant some young pine trees. The trees can be harvested in 13 years, at which time W-P plans to sell the forest at

Prepare the necessary journal entries in 2013, Berg Company adopted a stock...

Berg Company adopted a stock-option plan on November 30, 2013, that provided that 73,200 shares of $5 par value stock be designated as available for the granting of options to offi

Determine the net present value , A project requires a net investment of $4...

A project requires a net investment of $450,000. It has a profitability index of 1.25 based on the firm's 12 percent cost of capital. Determine the net present value of the project

Official development assistance , 1. To qualify as official development ass...

1. To qualify as official development assistance (ODA), development loans must have a grant element of at least 25 percent, calculated using a stated annual interest rate of 10 per

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