In Bignold vs Giles,(1), Kindersley V. C. described "annuity" in these words: "An annuity is a right to receive de anno in annuma certain sum; that may be given for life, or for a series of years; it may be given during any particular period, or in perpetuity; and there is also this singularity about annuities, that although payable out of the personal assets, they are capable of being given for the purpose of devolution, as real estate; they may be given to a man and his heirs, and may go to the heir as real estate so an annuity may be given to a man and the heirs of his body; that does not, it is true constitute an estate tail, but that is by reason of the Statute De Donis, which contains only the word 'tenements ', and an annuity, though a hereditament, is not a tenement; and an annuity so given is a base fee.