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]\
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Is the reduction of legacies for the purpose of paying the testator's debts.
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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
Word of the day
Quinones
- Hydrocarbon rings which contain two moieties position. They can be substituted in any position except at the ketone groups.