#1
What does the Rule Against Perpetuities (RAP) govern?
Validity of future interests in property
ExplanationDefines the time limit for the validity of future property interests.
#2
Which of the following is NOT a future interest subject to the Rule Against Perpetuities?
Life estate
ExplanationLife estate is exempt from RAP restrictions on future interests.
#3
What is the 'vested remainder' in the context of the Rule Against Perpetuities?
A future interest that is certain to become possessory, subject to no conditions
ExplanationA future interest certain to vest and become possessory without conditions.
#4
What is the 'merger doctrine' in the context of the Rule Against Perpetuities?
A doctrine that merges contingent remainders with the fee simple estate
ExplanationDoctrine merging contingent remainders with fee simple estate.
#5
What is the 'doctrine of worthier title' in the context of the Rule Against Perpetuities?
A doctrine that invalidates future interests created in the grantor's heirs
ExplanationInvalidates future interests in the grantor's heirs under this doctrine.
#6
Which of the following is a key requirement for a future interest to be valid under the Rule Against Perpetuities?
It must vest within a life in being plus 21 years
ExplanationSpecifies the temporal condition for the validity of future interests under RAP.
#7
What is the 'wait and see' approach in the Rule Against Perpetuities?
Delays the start of the RAP's measuring period until the future interest either vests or fails
ExplanationPostpones the commencement of RAP measurement, allowing flexibility based on actual vesting.
#8
What is the 'common scheme doctrine' in relation to the Rule Against Perpetuities?
Allows a group of related instruments to be treated as one for the purpose of the RAP
ExplanationPermits treating related instruments as a unit for RAP compliance.
#9
In the context of the Rule Against Perpetuities, what is the 'cy près' doctrine?
Allows a court to reform a trust when the original purpose becomes impossible or impracticable
ExplanationEmpowers courts to modify trusts if the original purpose becomes unattainable.
#10
In which of the following scenarios would the Rule Against Perpetuities not apply?
Creation of a life estate
ExplanationLife estates are exempt from RAP regulations on future interests.
#11
What is the 'second look doctrine' in the context of the Rule Against Perpetuities?
Allows courts to reevaluate whether a future interest violates the RAP after it has vested
ExplanationEnables courts to reassess RAP compliance even after the future interest has vested.
#12
Which of the following is NOT a common criticism of the Rule Against Perpetuities?
It is too lenient towards future interests
ExplanationNot criticized for being too lenient towards future interests.
#13
Which jurisdiction has abolished the Rule Against Perpetuities?
Alaska
ExplanationAlaska has eliminated RAP, providing perpetual validity for future interests.
#14
Under the Rule Against Perpetuities, what is the 'destructibility of contingent remainders' doctrine?
Contingent remainders are void if they do not vest before the death of the grantor
ExplanationInvalidates contingent remainders if they fail to vest before the grantor's death.
#15
Which famous legal case significantly contributed to the development of the Rule Against Perpetuities?
Shelley's Case
ExplanationShelley's Case played a pivotal role in shaping the principles of RAP.
#16
What is the 'bad as to one, bad as to all' principle in the context of the Rule Against Perpetuities?
If a future interest is invalid as to one person, it is invalid as to all other parties
ExplanationInvalidity of a future interest for one person extends to all parties involved.
#17
What is the 'saving provision' in relation to the Rule Against Perpetuities?
A clause in a document that saves future interests from being invalidated by the RAP
ExplanationDocument provision safeguarding future interests from RAP invalidation.
#18
What is the 'destructibility of contingent remainders' doctrine?
Contingent remainders are void if they do not vest before the death of the grantor
ExplanationDoctrine rendering contingent remainders void if not vested before the grantor's death.
#19
Which of the following is an example of a 'wait and see' jurisdiction regarding the Rule Against Perpetuities?
New York
ExplanationNew York follows the 'wait and see' approach in applying the Rule Against Perpetuities.