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.