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rule of cy pres

 

Definitions from WordNet

Noun rule of cy pres has 1 sense
  1. cy pres, rule of cy pres, cy pres doctrine - a rule that when literal compliance is impossible the intention of a donor or testator should be carried out as nearly as possible
    --1 is a kind of rule, regulation

Definitions from the Web

Term: Rule of Cy Pres

Definition:

The rule of cy pres, also known as the cy pres doctrine, is a legal principle that allows a court to modify the terms of a charitable trust or a will when the original objective is impracticable or impossible to fulfill. The court can then direct the funds or assets to be used for a purpose closely related to the original intent of the trust or will.

Examples:

Example 1 - Charitable Trust:

The wealthy philanthropist left a sizable sum of money in his will to establish a library. However, due to a lack of available land, it was impossible to build the library as initially intended. Following the rule of cy pres, the court directed the funds to be used to renovate a local school library to benefit the community.

Example 2 - Will:

An elderly woman left a substantial amount in her will to support a local animal shelter. Unfortunately, the animal shelter ceased to exist before her passing. Applying the rule of cy pres, the court determined that the funds should be utilized to support another reputable animal welfare organization in the region.

Related Products:

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