...against perpetuities. In Gray, Perp. § 201, the rule invoked is stated in the following terms: ''Jso interest subject to a condition precedent is good...some life in being at the creation of the interest." The theory of counsel ia that the interest or estate created by the mortgage rests or is conditioned...

...take effect on the happening of remote contingencies. It does not apply to interests which are vested. No interest subject to a condition precedent is good,...the condition must be fulfilled, if at all, within the time limited by the rule; but a vested interest cannot be subject to a condition precedent, and,...

...lives in being at the inception of the trust and twenty-one years thereafter; or, as more technically stated, "No interest subject to a condition precedent...some life in being at the creation of the interest." (See Gray on Perpetuities.) A trust in violation of this rule may result in the failure of the whole...

...statement of the rule against perpetuities, no interest subject to a condition precedent Is :"><>d unless the condition must be fulfilled, if at all,...some life In being at the creation of the interest. Gray, Rule Against Perpetuities, § 201. Consequently, the English courts have held that a covenant...

...is that given by Professor Gray: "No interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest." Gray on Perpetuities (3rd. Ed.), page 174. This definition of the Rule was approved by the Supreme...

...Perpetuities states the rule to be "no interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest"23 ; however, to this concise statement of the rule by Professor Gray, there are certain exceptions...

...rule as stated by Professor Grty: "No interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest." The author then says that this definition is subject to two qualifications The first is that the twenty-one...

...$200,000, until the will had been construed by some competent court. This bill was then filed. [1-8] The rule against perpetuities has been thus stated:...the condition must be fulfilled, If at all, within 21 years after some life in being at the creation of the Interest." "No Interest Is good unless It...

...effect on the happening of remote contingencies. It does not apply to Interests which are vested. So interest subject to a condition precedent is good,...the condition must be fulfilled, if at all, within the time limited by the role; but a vested interest cannot be subject to a condition precedent, and,...

...rule against perpetuities is: "That no interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest." Gray's Rule against Perpetuities, § 201. [1-3] If the provisions of a will are such that under them...