Expectancy, in legal terms, refers to the anticipated benefits or rights that an individual or entity reasonably expects to receive under a contract, will, or other legal arrangement. It often relates to future interests, such as inheritances, bequests, or contractual obligations that have not yet been fulfiled. Expectancy can arise from various sources, including promises, representations, or legal entitlements established by law. In contract law, for example, parties may have an expectancy of performance or payment based on the terms of the agreement. Similarly, in estate planning, beneficiaries may have an expectancy of receiving specific assets or shares of an estate based on a decedent’s will. The legal protection of expectancy interests aims to safeguard individuals’ reasonable expectations and ensure that they receive the benefits or rights to which they are entitled under the law.
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This glossary post was last updated: 29th March, 2024.
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