Where a bequest is contingent, the executor is not bound to pay the legacy without such security as the Court thinks sufficient to refund the legacy in the event of the contingency happening.

Investment of residue bequeathed for life, with direction to invest in specified securities Investment of residue bequeathed for life, with direction to invest in specified securities. Where the testator bequeaths the residue of his estate to a legatee for life in trust for his benefit, and directs that it shall be invested in certain specified securities, so much of the estate as is not at the time of his death invested in securities of the specified kind shall be converted into money and invested in such securities.