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 1,000l. 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.