Montana Code 72-7-407. Remedy for breach of contract to appoint or not to appoint
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72-7-407. Remedy for breach of contract to appoint or not to appoint. The remedy for a powerholder‘s breach of a contract to appoint or not to appoint appointive property is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract.
Terms Used In Montana Code 72-7-407
- Appointive property: means the property or property interest subject to a power of appointment. See Montana Code 72-7-102
- 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 Montana Code 72-7-102
- Property: means real and personal property. See Montana Code 1-1-205