REV 



REV 



and multiplied by 50, gives 2581. Us. for 

 the value in this case. 



Problem 6 To find the value of a given 

 estate at the death of B, provided that 

 should happen after the death of A. 



Find the value of an annuity upon the 

 longest of two equal lives, whose common 

 age is that of the older of the two lives, 

 A and B, which value subtract from the 

 perpetuity and take half the remainder. 

 Then, as the expectation of duration of 

 the younger of the lives is to that of the 

 older, so is the said half remainder to the 

 number of years purchase required, when 

 B is the older of the two. But if B be the 

 younger, then to the number of years pur- 

 chase thus found add the value of an an- 

 nuity on the longest of the lives, A and B, 

 and subtract the sum from the perpetuity 

 for the answer in this case. 



Example 1. Let the age of A be 30, and 

 that of B 60 years ; the given estate 120/. 

 per annum. Then the value of an an- 

 nuity on the longest of two lives aged 60 

 each will be found to be 10,896, which 

 taken from 20, the perpetuity, leaves 9,104 

 for the remainder. Therefore it will be 

 as 28,27, the expectation of A, is to 13,21, 

 the expectation of B, so is 4,552 the half 

 remainder, to 2,127, the number of years 

 purchase required, which, being multi- 

 plied by 120, gives 255'. 4s. 9d. for the 

 present value. 



Example 2. Let the age of A be 60 and 

 that of B 30 years ; then, to the number of 

 years purchase found in the preceding ex- 

 ample, add 14,172, the value of an annuity 

 on the longest of the two lives, the sum 

 is 16,299, and this subtracted from 20, the 

 perpetuity, and multiplied by 120, gives 

 444/. 2s. 4d. for the value in this case. 



The solutions of the two last problems 

 comprehend all the cases of survivorship 

 between two lives for their whole dura- 

 tion; but an expectation dependent on 

 survivorship is sometimes restricted to a 

 term of years less than the whole dura- 

 tion of the lives. Those who have occa- 

 sion for the rules for resolving questions 

 of this description, or of the various cases 

 which may arise when three or more lives 

 are concerned, are referred to Mr. T. 

 Simpson's Doctrine of Annuities, Dr. 

 Price's Treatise on Reversionary Pay- 

 ments, or Mr W. Morgan's Treatise on 

 Annuities and Assurances. 



Reversionary interests being a species 

 of property of which purchasers are not 

 always readily found, those who have oc- 

 casion to dispose of an interest of this 

 kind generally sell it by public auction, 

 in which mode it very seldom happens 



that more than two thirds of the true cal- 

 culated value is obtained. 



REVERSION of series, in algebra, a kind 

 of reversed operation of an infinite series. 



REVERSION, in law, is that part of an 

 estate, or interest, which remains to the 

 original grantor, or his heirs, after the 

 particular or less estate which he has 

 granted shall expire. Thus, if A, having 

 the fee, grant an estate for life, or in tail, 

 to B, A still has an estate in fee, in rever- 

 sion, expectant upon the failure or deter- 

 mination of the particular estate of B. It 

 differs from a remainder, in being the 

 remnant of the estate in the hands of the 

 original grantor ; but a remainder is some- 

 thing granted out by the grantor. See 

 REMAINDER. 



REVIEW. In the military acceptation 

 of the term, an inspection of the appear- 

 ance and regular disposition ora body of 

 troops, assembled for that purpose. At 

 all reviews, the officers should be proper- 

 ly armed, ready in their exercise, salute 

 well, in good time, and with a good air ; 

 their uniform genteel, &c. The men should 

 be clean and well dressed ; their accoutre- 

 ments well put on ; very well sized in 

 the ranks ; the Serjeants expert in their 

 duty, drummers perfect in their beatings, 

 and the fifers play correct. The manual 

 exercise must be performed in good time, 

 and with life ; and the men carry their 

 arms well ; march, wheel, and form with 

 exactness. All manoeuvres must be per- 

 formed with the utmost regularity, both 

 in quick and slow time. The intention of 

 a review is, to know the condition of the 

 troops, to see that they are complete, 

 and perform their exercise and evolu- 

 tions well. 



REVIEW, bill of, in chancery, is where 

 a cause has been heard and the decree 

 signed and enrolled , and some error in 

 law appears upon the decree, or new mat- 

 ter is discovered in time after the decree 

 made, a bill of review is then had. 



REVISE. See PRINTING. 



REV1VOR, bill of, is where a bill has 

 been exhibited in Chancery, against one 

 who answers, and before the cause is 

 heard, or if heard, before the decree en- 

 rolled either party dies. The cause is 

 then said to die also, and a bill of revivor 

 must be brought, that the former pro- 

 ceedings may stand revived, and the 

 cause be finally determined. 



REVOCATION, in law, a destroying 

 or making void a deed or will which ex- 

 isted before the act of revocation. 



Some things may be revoked, of course, 

 though they are made irrevocable by ex- 



