The validly executed will of John Dane contained the following provision: “I give and devise to my daughter, Mary, Redacre for and during her natural life and, at her death, the remainder to go to Wilmore College.” The will also provided that the residue of his estate should go to Wilmore College. Thereafter, Dane sold Redacre and then added a validly executed codicil to his will, “Due to the fact that I have sold Redacre, which I previously gave to my daughter, Mary, I now give and devise Blackacre to Mary in place and instead of Redacre.”

Another clause of the codicil provided: “I give my one-half interest in the oil business that I own in common with William Steele to my son, Henry.” Subsequently, Dane acquired all of the interest in the oil business from his partner, Steele, and, at the time of his death, Dane owned the entire oil business. The will and codicil have been admitted to probate.

a. Explain what interest, if any, Mary acquires in Blackacre.

b. Explain what interest, if any, Henry acquires in the oil business.