Contract to Appoint; Power Presently Exercisable

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§ 10-5.2 Contract to appoint; power presently exercisable

The donee of a power of appointment which is presently exercisable, or of a postponed power which has become exercisable, can contract to make an appointment to the extent that the contract or the promised appointment does not confer a benefit upon a person who is not a permissible appointee under the power.



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