Search over 40,000 articles from the original, classic Encyclopedia Britannica, 11th Edition.
|
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 . |
|
|
[back] ABATEMENT OF A NUISANCE |
[next] ABATEMENT OF FALSE LIGHTS |
There are no comments yet for this article.
Do not copy, download, transfer, or otherwise replicate the site content in whole or in part.
Links to articles and home page are encouraged.