158. Ademption where stock, specifically bequeathed, does not exist at testator's death.- Where stock which has been specifically bequeathed does not exist at the testator's death, the legacy is adeemed. Illustration A bequeaths to B-- "my capital stock of 1,000 l. in East India Stock": "my promissory notes of the Central Government for 10,000 rupees in their 4 per cent. loan." A sells the stock and the notes. The legacies are adeemed. Ademption pro tanto where stock, specifically bequeathed, exists in part only at testator's death. |
