GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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22:29 Feb 20, 2019 |
English language (monolingual) [PRO] Law/Patents - Law (general) / Trust Fund | |||||||
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| Selected response from: Charles Davis Spain Local time: 03:05 | ||||||
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Mantenerse Explanation: Saludos, JP Maggiore |
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relate to each other Explanation: bear to each other = > relate to each other |
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are worked out/calculated proportionally Explanation: I would say |
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in the relative proportions assigned by clause X to the surviving beneficiaries Explanation: I think the clearest way to explain this is to give an example with specific figures. Let's say that clause X identifies 4 beneficiaries and stipulates that if all the 4 beneficiaries are living on the date of the Terminating Event, they receive shares in the following proportions (keeping the figures fairly simple): A: 40%; B: 30%; C: 20%; D: 10% That is, there are 10 shares in all, and A gets 4, B gets 3, C gets 2 and D gets 1. Now, suppose, for example, that A dies before the Terminating Event. The 40%, or 4 shares, that A was due to get are held in trust, and when the Terminating Event occurs, these 4 shares are shared among the other three, B, C and D. The proportions that the shares due to B, C and D under Clause X bear to each other are 3:2:1. That is, they are due to get a total of 6 shares, in those proportions: B: 50% (3/6) of the remaining 6 shares, C: 33,33% (2/6) and D: 16,67% (1/6). So A's 4 shares, which have been held in trust, are shared among B, C and D in those proportions, as follows: B will get 50% of A's 4 shares = 2 shares. C will get 33.33% = 1,33 shares. D will get 16.67% = 0,67 shares. Add these to the shares that these three were entitled to in their own right, and their final totals will be: B: 5 shares (his/her own 3 plus 2 of those assigned to A) C: 3.33 shares (his/her own 2 plus 1.33 of those assigned to A) D: 1.67 shares (his/her own 1 plus 0.67 of those assigned to A) So the total of 10 shares will be distributed like this: B: 50%; C: 33.33%; D: 16.67% I hope that's clear! The key point is that "the proportions they bear to each other" means the proportions of the surviving beneficiaries relative to each other according to Clause X, excluding the deceased beneficiary (or beneficiaries). -------------------------------------------------- Note added at 9 hrs (2019-02-21 08:16:10 GMT) -------------------------------------------------- You haven't asked for a Spanish translation, but maybe it will help to say that "bear" here really means "guardar", as in "bear a certain relation to something" (guardar o tener cierta relación con algo). So literally "the proportions which the number of shares [...] bear to each other"means "las proporciones que las partes [...] guardan/tienen entre sí". |
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