Kentucky Statutes 390.310 – Remedy for breach of contract to appoint or not to appoint
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The remedy for a powerholder‘s breach of a contract to appoint or not to appoint is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 30, effective July 15, 2020.
Effective: July 15, 2020
Terms Used In Kentucky Statutes 390.310
- Appointive property: means the property or property interest subject to a power of appointment. See Kentucky Statutes 390.020
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Powerholder: means a person in whom a donor creates a power of appointment. See Kentucky Statutes 390.020
History: Created 2020 Ky. Acts ch. 41, sec. 30, effective July 15, 2020.