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.
Most popular in the US
Most popular in Australia
Most popular in Malaysia
Most popular in Pakistan