THE CLASSIFICATION OF SOME POWERS OF APPOINTMENT
Gold, Joseph
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- 2001Fitzpatrick v. Mercantile-Safe Deposit & Trust Co. Md.
- 1959Fitzpatrick v. Mercantile-Safe Deposit & Trust Co. Md.
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Abstract
Many problems involving powers of appointment depend for their solution on the classification of the power in question as general or special. It is now clearly established in English law and in most American jurisdictions that this classification depends on the persons to whom an appointment may be made. The fact that the power is exercisable on a contingency or in a specified manner does not affect the character of the power. Nor is it relevant for the purpose of classification that the power permits the appointment of a limited interest only.
A general power is usually said to be one which enables the donee of the power to appoint to anyone he pleases, including himself. A special power is usually defined as one which the donee may exercise in favor of certain specified persons or classes. Sometimes it is said that these specified persons or classes do not include the donee.