ABATEMENT OF LEGACIES
\ɐbˈe͡ɪtmənt ɒv lˈɛɡəsɪz], \ɐbˈeɪtmənt ɒv lˈɛɡəsɪz], \ɐ_b_ˈeɪ_t_m_ə_n_t ɒ_v l_ˈɛ_ɡ_ə_s_ɪ_z]\
Definitions of ABATEMENT OF LEGACIES
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When the estate is short of paying the debts and legacies, and there are general legacies and specific legacies, the rule is that the general legatees must abate proportionably in order to pay the debts; a specific legacy is not abated unless the general legacies cannot pay all the debts; in that case what remains to be paid must be paid by the specific legatees, who must, where there are several, abate their legacies, proportionably. 2 Bl. Com. 513; 2 Vessen. 561 to 564; 1 P. Wms. 680; 2 P. Wms. 283. See 2 Bro. C. C. 19; Bac. Abr. Legacies, H; Rop. on Leg. 253, 284.
By John Bouvier
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- in an anachronistic manner; "let's look at this phenomenon anachronistically"