(1)
A legacy bequeathed in case a specified uncertain event shall happen does not vest until that event happens.
(2)
A legacy bequeathed in case a specified uncertain event shall not happen does not vest until the happening of that event becomes impossible.
(3)
In either case, until the condition has been fulfilled, the interest of the legatee is called contingent.
(Exception) —Where a fund is bequeathed to any person upon his attaining a particular age, and the Will also gives to him absolutely the income to arise from the fund before he reaches that age, or directs the income, or so much of it as may be necessary, to be applied for his benefit, the bequest of the fund is not contingent.