PayPal charges a fee (based on the currency received) to the seller when the buyer files a chargeback with his/her credit card issuer. If the transaction is protected by Seller Protection Policy, PayPal will cover the amount of the chargeback and waive the chargeback fee. You can view the chargeback fee and process in the User Agreement.
A bequest is the act of giving property by will. Strictly, bequest is used of personal property, and devise of real property.In legal terminology, bequeath is a verb form meaning to make a bequest.ection 102(a) of the Code makes an exception for bequests stating that Gross income does not include the value of property acquired by gift, bequest, or inheritance.. In general this means that the value or amount of the bequest does not need to be included in a taxpayer's gross income.
DEFINITION of 'Bequest'. The act of giving personal property or money such as stocks, bonds, jewelry and cash left to an individual or organization through the provisions of a will or estate plan. Bequests can be made to family, friends, institutions or charities.haritable gifts after death can also reduce estate taxes. When a bequest is left to a charity, it may be called a legacy gift. Such bequests can be important sources of fundraising for nonprofit organizations. When the bequest is intended for a specific purpose, it is called an endowment.