LEGACY :708
Categories: Property
Definition (1910 Edition)
legacy is payable, the bequest is sald to. lapse, as it then falls into the residuary fund of the estate.—-Miodal legacy. A bequest accompanied by directions as to the mode or manner in which it shall be applied for the legatee’s benefit, e. g., a legacy to A. to buy him a house or a commission in the army. See Lown. Leg. 151.—Pecuniary legacy. A bequest of a sum of money, or of an annuity. It may or may not specify the fund from which it is to be drawn. It is not the less a pecuniary legacy if it comprises the specific pieces of money in a designated receptacle, as a purse or chest.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain.
UK commentary and modern updates are original additions. This entry is for educational
reference only and does not constitute legal advice.