407. Construction of forfeiture clauses.

In the construction of wills and settlements providing for the determination of a grantee's interest in the event of his bankruptcy, the court, for the sake of giving effect to the testator's or settlor's intention that property should not pass into hands other than those which the testator or settlor intended, has construed the clauses creating the limitation over in the event of bankruptcy in such a way as to apply them to a bankruptcy already existing, either at the date of the will or the settlement or at the time when the grantee's interest would, but for the