Online Encyclopedia

Search over 40,000 articles from the original, classic Encyclopedia Britannica, 11th Edition.

ABATEMENT OF DEBTS AND LEGACIES

Online Encyclopedia
Originally appearing in Volume V01, Page 7 of the 1911 Encyclopedia Britannica.
Spread the word: del.icio.us del.icio.us it!

See also:

ABATEMENT OF DEBTS AND LEGACIES  . When the equitable See also:assets (see ASSETS) of a deceased See also:person are not sufficient to satisfy fully all the creditors, their debts must abate proportionately, and they must accept a See also:dividend . Also, in the See also:case of legacies when the funds or assets out of which they are payable are not sufficient to pay them in full, the legacies abate in proportion, unless there is a priority given specially to any particular See also:legacy (see LEGACY) . Annuities are also subject to the same See also:rule as See also:general legacies .

End of Article: ABATEMENT OF DEBTS AND LEGACIES
[back]
ABATEMENT OF A NUISANCE
[next]
ABATEMENT OF FALSE LIGHTS

Additional information and Comments

There are no comments yet for this article.
» Add information or comments to this article.
Please link directly to this article:
Highlight the code below, right click and select "copy." Paste it into a website, email, or other HTML document.