A testator, who was survived by his wife, left as part of his estate certain stocks and shares, some of which stood in the joint names of himself and his wife, and others in the joint names of himself and his wife and the survivor. All these investments had been made out of the testator’s own means, and the titles thereto were found in his repositories after his death, there having been no gift or delivery of them to his wife during his lifetime. The testamentary writings, which consisted of a trust-disposition and several codicils, did not contain any express revocation of prior special destinations. The last codicil, however, which was subsequent in date to the investments to which this appeal related, was practically a new settlement, and contained a general conveyance of the testator’s whole estate, and a clause which gave to his niece an option to purchase after the death of his wife any shares held by him at the time of his death, or held by his wife at the time of her death, at a valuation not greater than the cost price, and specified as shares which she might so acquire, certain shares among which were included some of the shares standing in the names of himself and his wife, and of himself and his wife and the survivor. The enumeration was followed by the words ‘or others if preferable.’
Held (aff. the judgment of the First Division) that, as the right of purchase conferred on the niece by the last codicil was irreconcilable with the special destinations in the share certificates, the destinations contained therein were revoked by the general conveyance.
Judges:
Viscount Cave, Viscount Finlay, Lord Dunedin, Lord Shaw, and Lord Sumner
Citations:
61 SLR 484, [1924] UKHL 484
Links:
Jurisdiction:
Scotland
Wills and Probate
Updated: 09 December 2022; Ref: scu.631559