ECJ - Recent Developments in Value Added Tax
1. Aufl. 2014
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S. 140I. Introduction
‘Succession of defuncts is the most important title in law; for thereby the rights of all persons do pass once, and frequently oftener, in every generation, and therefore the rule and course of succession ought to be accurately searched out...’
The famous Scots Jurist, Lord Stair lived in the 17th century. I think he was a very wise man. He tells us that succession is “the most important title in law”. What does he mean by that? Why is it the most important? The answer hopefully comes to the reader in a moment of inspiration, as it came to me, the author one day! It is not the disposition of a thing; it is the disposition of everything, or a part thereof. When there is succession, whether particular (i.e. part) or universal (of the whole) then all of the relevant property is transferred. If succession is to a deceased person, it is their life’s work that is transferred. If to a business, then the transfer is horizontal in economic terms. It can represent high value. It’s the lot, it’s the farm sale. So it is important, a large sum of money can be involved on capital account. I therefore agree with Lord Stair, the rule and course of succession ought to be “accurately s...