A bequest of 'all my shares and stock in all companies' is capable of including debenture stock where the testatrix used the singular 'stock' (rather than 'stocks') and the context indicates an intention to encompass interest-bearing investments beyond equity shares. However, units in unit trusts are not normally comprehended by such a bequest, as they are fundamentally different from shares or stock — they confer a proprietary interest under a trust deed, are not traded on the stock exchange, and have characteristics foreign to equity interests or interest-bearing stock.
The full text is available to signed-in members, including the 8 later cases that cite this judgment.