ALL OR NOTHING
INTERPRETATION OF A GIFT.
DECISION OF APPEAL COURT.
(BY TELEGRAPH PRESS ASSOCIATION.) WELLINGTON, Sept. 3. The Court of Appeal gave judgment this morning in the case ol Pearce Estate, which came before the Court last .session. The question, for -decision was whether, the legatees, Frank Kenneth Pearce and Alan Pearce were entitled to renounce the devise of land left to them .under the will of William Bryant Via,ter Pearce, while accepting a gift of stock and other chatties on the land. This matter involved a large sum as the nett value of testator’s estate is .some, £62,000. The legatees refused the gift of land because of the burdens attached to it, which made it of no worth to them, hut were, quite willing to accept valuable stock. If they did this, however, the burdens of the land would have -to 1 be satisfied out o-f the residuary estate under the will and would mean a burden on the resiniary legatees. The Court gave judgment that the two legatees could- not renounce the devise- of the land whilst accepting the gift of stock and chatties, but -must take all or nothing.
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Bibliographic details
Hawera Star, Volume XLVI, 3 September 1926, Page 9
Word Count
193ALL OR NOTHING Hawera Star, Volume XLVI, 3 September 1926, Page 9
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