154. Ademption of specific bequest of right to receive something from third party.- Where the thing specifically bequeathed is the right to receive something of value from a third party, and the testator himself receives it, the bequest is adeemed. Illustrations
A bequeaths to B--" the debt which C owes me":" 2, 000 rupees which I have in the hands of D":" the money due to me on the bond of E":" my mortgage on the Rampur factory." All these debts are extinguished in A' s lifetime, some with and some without his consent. All the legacies are adeemed.
A bequeaths to B his interest in certain policies of his life assurance. A in his lifetime receives the amount of the policies. The legacy is adeemed.