Annuity

'' A yeai-ly sum stipulated to be paid to another in fee or for life or years, and chargeable only on the person of the grantor. 5 A yearly sum chargeable upon the person of the grantor. 6 A " rent-charge " is a burden imposed upon lands.* An annuity is a stated sum payable annually, unless otherwise directed. It is neither "income" nor "profits," nor does it vary with them, though a certain fund may be provided out of which the smn is payable.'

See Ihdian.

Anntdtant.

One who is entitled to an annuity.

Altmiity table

A table exhibiting the probable longevity of a person at any particular age. Based upon statistics, and of use in matters of life Insurance and dower.

See further Table, 4.

Iiife annuity

An annuity limited upon another's life — the engagement or the sum of money promised.' An annuity payable to the annuitant and his heirs is a personal fee; neither curtesy nor dower are incidents thereto. It is assignable, and bequeathable; and may be an asset in case of Insolvency. Kemedies for its non-payment are: debt, covenant, action of annuity at common law.* It is also apportionable; and may be paid to a widow in lieu of dower.'" ' Savage v. Bircldiead, 20 Picli. 167 (1838); Shaw v. Mo Gregory, 105 Mass. 100 (1870). ' Sparhawk v. Wills, 6 Gray, 164 (1856); Westfleld v. Westfleld.

19 S. C. 89-90 (1883). 5 JNTinchell v. Coney, 54 Conn. 26, 30 (1886). < L. L. annuitas: L. annu Sy a year. "Coke, Litt. 144 6; 3 Kent, 460; 24 N. J. E. 358; 33 Barb. 316. «2B1. Com. 40; 10 Watts, 137; 33 Barb. 318. ' Booth 1). Ammerman, 4 Bradf. 133-35 (1856), cases; Pearson v. Chace, 10 R. I. 456-57 (1873), cases; Bartlett V. Slater, 53 Conn. 107 (1885), cases. 8 See 3 Bl. Com. 461. •3 Kent, 460,471; Coke, Litt. 385; 4 Ves. 763; 5 id.

Since an annuity may be regarded as a legacy payable by a yearly instalment, the word " legacy," as used in a will, may comprise the word annuity."