Report No. 110
Onerous Bequests (Sections 122 and 123)
19.1. Scope. Onerous bequests form the subject-matter of two sections-
sections 122 and 123, which are simple and self-explanatory.
19.2. Sections 112-Onerous Bequests.- Section 122 reads as under:-
"122. Where, a bequest imposes an obligation on the legatee, he can take nothing by it unless he accepts it fully.
A, having shares in (X), a prosperous joint stock company and also shares in (Y), a joint stock company in difficulties, in respect of which shares heavy calls are expected to be made, bequeaths to B all his shares in joint stock companies; B refuses to accept the shares in (Y). He forfeits the shares in (X)".