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Legacy

The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

The Cyclopedic Law Dictionary

A gift by last will. The term is more commonly applied to money or personal property, although sometimes used with reference to a charge upon real estate. 2 Williams, Ex'rs, 947; 5 Term R. 716; 1 Burrows, 268; 7 Ves. 391, 522. Absolute Legacy. One given without condition, to vest immediately. 1 Vern. 254; 2 Vern. 181; 5 Ves. 461; 19 Ves. 86; Comyn, Dig. "Chancery" (I 4).

Additional Legacy. One given to a legatee to whom a legacy has already been given. It may be either by an increase in a codicil of a prior legacy given in the will, or by another legacy added to that already given by the will. 6 Mod. 31; 2 Ves. Jr. 449; 3 Mer. 154. Alternative Lagacy. One by which the testator gives one of two or more things, without designating which. Conditional Legacy. A bequest whose existence depends upon the happening or not happening of some uncertain event, by which it is either to take place or be defeated. 1 Rop. Leg. (3d Ed.) 645. Demonstrative Legacy. A bequest of a certain sum of money with reference to a particular fund for payment. Williams, Ex'rs, 995. General Legacy. One so given as not to amount to a bequest of a particular thing or money of the testator, distinguished from all others of the same kind. 1 Rop. Leg. (3d Ed.) 170. Indefinite Legacy. A bequest of things which are not enumerated or ascertained as to numbers or quantities; as, a bequest by a testator of all his goods, all his stocks in the funds. Lowndes, Leg. 84; Swinb. Wills, 485; Ambl. 641; 1 P. Wms. 697. Lapsed Legacy. One which, in consequence of the death of the legatee before the testator, or before the period for vesting,' has never vested. Legacy for Life. One In which the legatee is to enjoy the use of the legacy for life. Model Legacy. A bequest accompanied with directions as to the mode in which it should be applied for thfe legatee's benefit; for example, a legacy to Titius to put him -:

Pecuniary Legacy. One of money. Pecuniary legacies are most usually general legacies, but there may be a specific pecuniary legacy; for example, of the money in a certain bag. 1 Rop. Leg. 150, note. Residuary Legacy. A bequest of all the testator's personal estate not otherwise effectually disposed of by his will. Lowndes, Leg. 10; Bac. Abr. "Legacies" (I). Specific Legacy. A bequest of a specified part of the testator's personal estate, distinguished from all others of the same kind. 3 Beav. Rolls, 349. LEGAL Opposed (1) to that which is unlawful; (2) to that which is equitable; (3) to that which is actual. See "In Law." As a prefix, it ordinarily implies sufficient in point of law; thus, legal consideration, legal debts, legal defenses, etc.