Section 158Central Act
Section 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£ 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.
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Sec 157 — Order of payment where portion of fund specifically bequeathed to one legatee, and legacy charged on same fund to another, and, testator having received portion of that fund, remainder insufficient to pay both legacies.
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Sec 159 — Ademption pro tanto where stock, specifically bequeathed, exists in part only at testator's death.
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