abatement of legacies

abatement of legacies
in both the English and the Scots law of succession, upon there being insufficient funds to pay general legacies, e.g. a legacy of a sum of money, legacies are abated, that is, reduced pari passu ('in proportion').

Collins dictionary of law. . 2001.

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  • Abatement of debts and legacies — is a common law doctrine of wills that holds that when the equitable assets of a deceased person are not sufficient to satisfy fully all the creditors, their debts must abate proportionately, and they must accept a dividend.In the case of… …   Wikipedia

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  • abatement — A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent. Legacies. A proportional diminution or reduction of the pecuniary legacies, when the funds or assets out of which… …   Black's law dictionary

  • abatement — /euh bayt meuhnt/, n. 1. the act or state of abating or the state of being abated; reduction; decrease; alleviation; mitigation. 2. suppression or termination: abatement of a nuisance; noise abatement. 3. an amount deducted or subtracted, as from …   Universalium

  • abatement — /əˈbeɪtmənt/ (say uh baytmuhnt) noun 1. alleviation; mitigation. 2. decrease; reduction. 3. Law the act of abating; suppression or termination. 4. Law a decrease in the legacies of a will when the assets of an estate are insufficient to pay all… …  

  • abatement of bequest — The process of determining the distribution of the assets left by a testator at his death among the various beneficiaries named in the will, where it appears that such assets are insufficient to pay both the debts of the testator and the expenses …   Ballentine's law dictionary

  • Roman Law —     Roman Law     † Catholic Encyclopedia ► Roman Law     In the following article this subject is briefly treated under the two heads of; I. Principles; II. History. Of these two divisions, I is subdivided into: A. Persons; B. Things; C. Actions …   Catholic encyclopedia

  • china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material …   Universalium

  • China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast …   Universalium

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