PRV4 144 Lecture Notes - Lecture 10: Settlor, Supermarine S.6, Rule Against Perpetuities

• School: McGill University
• Department: Private Law 4
• Course: PRV4 144
• Professor: Richard Janga

Document Summary

Executory interests: people wanted to do things that the cml remainder rules would not let them do. The right of entry is a personal thing retained by the grantor. I(cid:374) those da(cid:455)s, the gra(cid:374)tor (cid:272)ould(cid:374)"t tra(cid:374)s(cid:373)it it e(cid:454)(cid:272)ept (cid:271)(cid:455) intestate succession. Cml remainder rule #3 backs that idea up: this is why we would want to use a use. See problem on page 329 #3 is the solution is bullet 2. Note that this is before the statute of uses. In this situation, it is no longer a cml remainder so it does(cid:374)"t ha(cid:448)e to (cid:272)o(cid:373)pl(cid:455) with the cml remainder rules: this (cid:449)ould (cid:271)e (cid:272)alled a(cid:374) (cid:862)e(cid:454)e(cid:272)utor(cid:455) i(cid:374)terest(cid:863). It is still true that all interests are either legal or equitable. It is legal: we (cid:272)a(cid:374)"t (cid:272)all it a re(cid:373)ai(cid:374)der, note how now it is called legal executory interest and before it was just executory interest when it was equitable.