Date of Award
There is perhaps no legal subject more interesting nor important in the sphere of trust activity than the so-called "Rule against Perpetuities". This rule is colorful in its historical antecedents, and in its present form, as part and parcel of the common law, is the creature of necessity evolved to prevent property owners from placing their property perpetually beyond the reach of their descendants, or other beneficiaries. The doctrine compromises the conflict between those on the one hand who have amassed property, and who ftesire that the succeeding generations might enjoy the use and benefit thereof without possibility of the corpus being squandered or otherwise impaired, and those, on the other hand, who recognize the need of a rule embodying the principle of public policy, that the first purpose of property is its complete and unrestricted enjoyment, and that under no circumstance should it be dedicated to or diverted toward a purpose foreign thereto.
Canelo, Adolph, "Modern Phases of the Rule Against Perpetuities and Restraints Upon Alienation Applied to Entrusted Properties in the State of California" (1916). Student Theses. 3.