...invalid by virtue of section 715.2 and former sections 715.1 and 716 of the Civil Code relating to restraints on alienation and the rule against perpetuities. Paragraph...violated the rules relating to perpetuities and restraints on alienation. These closely akin subjects have long perplexed the courts and the bar. Professor Gray, a leading authority in the field, stated..., added further complexities. (See 38 Cal.Jur.2d 443; Coil, Perpetuities and Restraints; A Needed Reform (1955) 30 State Bar J. 87, 88-90.) In view of the state of the law relating to perpetuities and restraints on alienation and...

...fosters economic and commercial development. 2 Archbold's Blackstone, Ch. XIX (1825); Simes Smith, The Law of Future Interests, § 1135 (2nd ed., 1956); Manning, "The Development of Restraints on Alienation Since Gray," 48 Harv. L.Rev. 373, 403 (1935); IV Restatement, Property, 2129-33, 2379-80 (1944); 61 Am.Jur.2d, Perpetuities and Restraints...(1961); 61 Am.Jur.2d, Perpetuities and Restraints on Alienation, §§ 102-104(1972). The rule has long been recognized as precluding only unlimited or absolute restraints on alienation.... There is a distinction between restraints on alienation and restraints on use. 25 Fla. Jur., Perpetuities and Restraints on Alienation, § 17 (1959). Appellant urges that...

...unenforceable where it was not limited in time. Am Jur 2d, Perpetuities and Restraints on Alienation 65. Pre-emptive rights to...realty as violation of rule against perpetuities or rule concerning restraints on alienation. 40 ALR3d 920. 2. Deeds 59 (NCI4th); Vendor and Purchaser 2.1 (NCI3d) — preemptive right — rule against perpetuities — property...purchase is used in the operation of a business. Am Jur 2d, Perpetuities and Restraints on Alienation 65. Pre-emptive rights...

...lawyer's failure to meet the state's rule against perpetuities and restraints on alienation. 56 Cal. 2d at 592...of the state of the law relating to perpetuities and restraints on alienation and the nature of the error, if any, assertedly made by defendant in preparing the instrument, it would not be proper to...). Emil R. Berg, Portland, argued the cause for petitioner/respondent on review. With him on the petition and a response was Hallmark, Griffith Keating, P.C., Portland. Rick T...

...investment is not enough to escape the statute, for the proceeds wear the same fetters of restraint. 41 Am. Jur., Perpetuities and Restraints on Alienation, Secs. 21, 85. The invalidity of the final...power should not be abused. To prevent, therefore, estates from being locked up forever from commercial and social purposes, it has forbidden perpetuities, and fixed a period beyond which no one is allowed to direct how his estate shall devolve." Therefore, the rule against perpetuities and restraints on alienation of.... Jur., Perpetuities and Restraints on Alienation, Sec. 65; 48 C. J. 1036), that doctrine ought to be strictly recognized and applied because of the concern and solicitude of public policy...

...); Beets v. Tyler, 365 Mo. 895, 290 S.W.2d 76 (1956); see generally 61 Am. Jur.2d Perpetuities and Restraints on Alienation § 65...purposes of the rule is to promote marketability. Simes, Law of Future Interests § 121 (3rd ed. 1966). The related doctrine of restraints on alienation is ordinarily where the degree of restraint is considered. 61 Am.Jur.2d Perpetuities and Restraints...., Atchinson v. The City of Englewood, supra; Robroy Land Co. v. Prather, supra. No issue was raised as to the doctrine of restraints on alienation, therefore, we do not address it...

...affirm. Plaintiffs attacked the validity of the agreement on two grounds. They alleged it violated the rule against perpetuities and the rule against restraints on alienation. The trial...and the rule against restraints on alienation. The rules share the common objective of keeping property freely alienable. The rule against perpetuities does so by fixing the time within which a future.... See 61 Am.Jur.2d Perpetuities and Restraints on Alienation § 26 (1972). The wait-and-see doctrine has been adopted in several jurisdictions either by judicial decision or by statute. Id...

...error, if any, with respect to the rule against perpetuities and restraints on alienation was not actionable under either a negligence or contract theory ( Lucas v. Hamm, supra, at pp. 592...and restraints on alienation. The court first restated the requisites of a cause of action as laid down in Biakanja v. Irving, supra, then went on to say: "As in Biakanja, one of.... Evelle J. Younger, Attorney General, Anthony C. Joseph, Assistant Attorney General, Lawrence R. Tapper and Joanne Condas, Deputy Attorney General, as Amici Curiae on behalf of Plaintiff and...

.... , 98 A. 375, 377 (1916). A distinction must be made between the rule against perpetuities and the rule against restraints on alienation. Both...human life and if there is no measuring life, the interest must vest or fail within twenty-one years. See 61 Am.Jur.2d Perpetuities and Restraints on Alienation, § 18, at 23 (1981...which focuses upon the withdrawal of property from commerce. The rule against perpetuities invalidates interests which vest too remotely. The rule against restraints upon alienation...

...formulation of a desire by the owner to sell and usually upon the terms and price at which the owner is willing to sell to a third person. (See 61 Am.Jur.2d Perpetuities and Restraints on Alienation § 54.... However, in 61 Am.Jur.2d Perpetuities and Restraints on Alienation § 42, at 44-45 (1972), the prevailing rule of law is aptly stated, "The rule against perpetuities concerns rights of property...and the law can impose restrictions on the right to dispose of property based on reasons of public policy. The underlying purpose of the rule against perpetuities is founded on the public policy of...

...generally are proscribed as restraints on alienation of property, an agreement which prohibits partition and allows the co-owners to convey title only if they all agree on a price is not a restraint against alienation (Buschmann v McDermott, 154 App. Div. 515; 45 N.Y. Jur, Perpetuities and...Restraints on Alienation, § 95). Here, as in.... The duration of the agreement is dependent on the happening of either contingency, and there is thus no undue restraint against alienation of property by virtue of article 7. Further, although the...

...ruling of the district court as to this assignment of error. IV. Restraint on alienation. The executors argue that the option clause constitutes an unreasonable restraint on alienation of property. We disagree. As an initial matter, we note that option agreements are properly characterized as mere executory interests in property. See generally Restatement of Property § 393 comment a, at 2316 (1944); 61 Am.Jur.2d Perpetuities and Restraints on...compliance with the rule against perpetuities rather than with the rule against unreasonable restraints on alienation. Cf. Trecker v. Langel, 298 N.W.2d 289 (Iowa 1980) (evaluating preemptive right for compliance with rule against restraints on alienation). See generally Restatement of Property § 393, at 2315 (1944); Annotation, 66 A.L.R.3d 1294, 1299 (1975); 61 Am.Jur.2d Perpetuities and Restraints...on Alienation § 120, at 128 (1981); 91 C.J.S. Vendor and Purchaser § 6, at 846 (1955). The rule against perpetuities provides...

...that his attempted exercise of the power was void because it violated the rule against perpetuities and restraints on alienation, and that his share of his father's estate should therefore be...widow's death the income was to be paid to the sons for twenty-one years and the trust was then to terminate. Each son was given unrestricted power to appoint his share by will. On failure of a son to.... Action by Corcoran Thom and another, executors and trustees under the will of Arthur Jeffrey Parsons, and others, for instructions concerning attempted exercise of power of...

...violation and the answer admitted the option was perpetual. In 61 Am.Jur.2d, Perpetuities and Restraints on Alienation (1972), § 6, p. 10, we find this definition of...complained that an option she had given to Steven Rodney Miller to buy 39 acres of her land violated the rule against perpetuities, and had prayed for its cancellation. On April 28...rule against perpetuities applied to options to sell and purchase real estate. The option executed by Mrs. Hughes to Miller does not violate the rule against perpetuities. It is limited in its...

...vest either within a life in being at the time of the creation of the interest or until later than 21 years thereafter, the interest violates the rule against perpetuities and is therefore void. Atchison v. Englewood, 463 P.2d 297 (Colo. 1969); Henderson v. Bell, 173 P. 1124 (Kan. 1918); Ferrero Constr. Co. v. Dennis Rourke Corp., 536 A.2d 1137 (Md. 1988); Pace v. Culpepper, 347 So.2d 1313 (Miss. 1977); 61 Am.Jur.2d Perpetuities and Restraints on Alienation § 65...on appeal concerns whether the right of first refusal violates the rule against perpetuities. Other questions involve certain affirmative defenses. The trial court held the challenged right did not...violate the rule and, in any case, Webb could not now bring this action. We disagree and reverse. On November 5, 1955, B.B. Blease executed a deed conveying to John R. Webb certain...

..., 88 So. 513; Thomas v. Thomas, 97 Miss. 697, 53 So. 630; 33 Am. Jur., Life Estates, Remainders and Reversions, Sec. 68; 41 Am. Jur., Perpetuities and Restraints on Alienation, Sec...disposed of until after the expiration of thirty years from the date of the testator's death. It is conceded that this provision is violative of the rule against perpetuities and against alienation. It is stated in 41 Am. Jur., Perpetuities and Restraints on Alienation.... 1. Perpetuities — provisions of will — violated rule against perpetuities — against alienation. Provisions of...

...confusion or a failure to regard as distinct laws the rule against perpetuities, which is principally covered by statute, Kentucky Revised Statutes 381.220, and the rule against unreasonable restraints on the power of alienation, which is common law. 41 Am. Jur. Perpetuities and Restraints...the number or class of persons to whom the property may be aliened, it is invalid. 41 Am. Jur., Perpetuities and Restraints on Alienation, Secs. 75, 77; Restatement of the Law of Property, Section 406...respect to restraint of alienation of a life estate to a limited class of persons, it is said in 41 Am. Jur., Perpetuities and Restraints on Alienation, Section 81: "The weight of...

...(Tex Civ App, 1940) (hunting rights and privileges conveyed by lease); 61 Am Jur 2d, Perpetuities and Restraints on Alienation, § 49, pp 60-61. Defendants argue that the...predecessors in interest entered into a sand and gravel contract granting plaintiff's predecessor the exclusive right to extract sand and gravel from deposits on defendants' predecessors' property in exchange...contract was unconscionable and violated the rule against perpetuities. Both parties submitted motions for summary disposition pursuant to MCR 2.116(C)(8) and (9). The lower court granted only plaintiff's...

..., p. 592; 41 Am.Jur., Perpetuities and Restraints on Alienation, sec. 41, p. 84; Pratt v. Saline Valley Ry. Co., 130 Mo.App. 175...on alienation for a period which extends a right for a long and unreasonable or unlimited time or beyond a period analogous to the rule against perpetuities (life or lives in being and twenty-one years...only one. The agreement is void because is constitutes an unreasonable and unlawful restraint on alienation. Instruments such as this, known as "refusal of purchase" by a considerable...