Definition of demonstrative legacy in English:
A legacy that is directed to be paid from a specified fund or pool.
- A general legacy, a demonstrative legacy, and a specific legacy represent the three primary types of legacies.
- If the fund out of which a demonstrative legacy or an annuity is paid fails, resort may be made to the general assets.
- Interest is generally payable from death on specific legacies, whereas a general or demonstrative legacy carries interest from the time at which it is payable (usually one year after the death)
Definition of demonstrative legacy in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.