Contingent Bequest Law and Legal Definition
Contingent bequest refers to a legacy which is intended by the testator to vest only in the event and upon condition of the happening of a contingency named therein. Where a legacy is given at a future time, it is contingent, but where it is given to be paid at a future time it is vested; the time being considered in the latter instance annexed, not to the gift of the legacy, but to the payment of it. [Magoffin v. Patton, 4 Rawle 113 (Pa. 1833)].
Legal Definition list
Related Legal Terms
- Abatement of Bequest
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
- Bequest
- Contingent
- Contingent Annuity
- Contingent Beneficiary
- Contingent Business Interruption Insurance
- Contingent Claim
- Contingent Claim Against Decedent's Estate
- Contingent Consideration
