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Uncertainty
A gift or disposition not expressive of any definite intention shall be void for uncertainty, i.e A gift under a will fails where there is uncertainty as to:
E.g. A leaves some of his property to B; or A leaves his house in Karen to some of his children. However, no gift for charitable purposes is void because of uncertainty of the object. Also, no gift whereby the legatee is expressly or impliedly given a right of selection, purchase or disposition is void merely by reason of the uncertainty arising from that right. Where property is bequeathed to any person, the gift shall be presumed to comprise the whole interest of the testator in that property, unless it appears from a will that only a restricted interest was intended for him. The object of a gift which refers to a person or persons as existing shall be construed as at the date of the will, unless a contrary intention clearly appears therein.
1. Consider the following balance sheet: Best Care HMO Balance Sheet June 30, 2007 Assets / Current Assets*
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A gift of residue Where property is not given by a specific legacy nor by a general legacy, it makes up the residue of the testator's estate. If the testator fails to make a g
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Types of interest given under a will The interest given in a legacy, devise or gift of residue may be of the following kinds:- 1. Vested: A vested interest gives an immedi
liabilities and its types
You have been hired as consultants to advise Mr D of DN Company limited on the performance of his company which has been in business for two years. He has provided you with a subs
how solve the problems of trail balance?
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