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Perpetuities: Cy Pres On The March, W. Barton Leach
Perpetuities: Cy Pres On The March, W. Barton Leach
Vanderbilt Law Review
The standard doctrine has been that where an interest may vest too remotely the entire interest is stricken down; and this destructiveness is multiplied by the all-or-nothing rule of Leake v. Robinson which declares that the invalidity of a gift to any member of a class invalidates the gifts of all other members. It is the thesis of this paper that the penalty for violation of the Rule--a penalty inflicted, not on the violator, but on his or her intended beneficiaries, usually minors or unborns--should be, not the invalidation of the future interest, but rather a tailoring of the interest …
Raising The Perpetuities Question: Conception, Adoption, "Wait And See," And Cy Pres, Robert J. Lynn
Raising The Perpetuities Question: Conception, Adoption, "Wait And See," And Cy Pres, Robert J. Lynn
Vanderbilt Law Review
Applying the orthodox, the "wait and see," or the cy pres version of the Rule Against Perpetuities presupposes analyzing the limitations in the dispositive instrument as of the time of their creation to determine whether any gifts are future, whether any future gifts are remainders or executory interests, and whether any remainders or executory interests are contingent. If a contingent future interest might vest, if it vests at all, at a remote time, it is bad ab initio under the orthodox form of the Rule. That being so, the perpetuities question may properly be raised at the time the contingent …