Business Terms and Jargon Explained
What is Bequest
This is a gift left in a Last will and testament to either a person or organization. There are
four types of bequests.
- Residuary bequest - after all other gifts and debts are cleared. The
remainder can be left in total or in part to a Beneficiary.
- Pecuniary bequest - this is a fixed sum of money.
- Specific bequest - is a named item left as a gift in the will. E.g. clock,
painting and jewellery etc.
- Contigent bequest - is a gift which is dependent on an occurrence or event.
E.g. £50,000 from the estate to my son for every child he has fathered before
<- Go Back
Business Terms Home page
Search Jargon and Terms Database
A B C D E F G H I J K L M N
O P Q R S T U V W X Y Z
Term created / updated 2014-03-18 11:20:18
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.
Copyright © 2004-2021 Scopulus Limited. All rights reserved.