general legacy

general legacy
A legacy designated primarily by quantity or amount, such as a gift of a stated amount of money, and which may be satisfied out of the general assets of the testator, without the necessity of delivering any particular chattel or fund to the legatee. Spinney v Eaton, 111 Me 1, 87 A 378; Re Goggin's Estate, 43 Misc 233, 88 NYS 557; Crabtree v Kelly, 65 ND 501, 260 NW 262.

Ballentine's law dictionary. . 1998.

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  • general legacy — see legacy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. general legacy …   Law dictionary

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  • general legacy — noun : a testamentary gift of tangible or intangible personal property not amounting to a bequest of specific money or of a particular thing and not identified by a description that sets it apart from all other assets of the same kind in the… …   Useful english dictionary

  • general legacy — unspecified assets bequeathed in a will …   English contemporary dictionary

  • legacy — leg·a·cy / le gə sē/ n pl cies [Medieval Latin legatio, from Latin legare to bequeath]: a gift of property by will; specif: a gift of personal property by will: bequest see also ademption compare devise conjoint leg …   Law dictionary

  • general — gen·er·al / jen rəl, je nə / adj 1: involving, applicable to, or affecting the whole 2: involving, relating to, or applicable to every member of a class, kind, or group 3: not confined by specialization or limitation 4: relating to, determined by …   Law dictionary

  • legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

  • legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …   Black's law dictionary

  • legacy — ▪ I. legacy leg‧a‧cy 1 [ˈlegəsi] noun legacies PLURALFORM [countable] 1. a situation that exists as a result of things that happened at an earlier time: • Hotels are in oversupply, a legacy of the last building boom. 2 …   Financial and business terms

  • legacy — /leg euh see/, n., pl. legacies. 1. Law. a gift of property, esp. personal property, as money, by will; a bequest. 2. anything handed down from the past, as from an ancestor or predecessor: the legacy of ancient Rome. 3. an applicant to or… …   Universalium

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