Rule Against Perpetuities 2: Reforms - Cy Pres and Wait-and-See Doctrines
This lesson's overall plan is to introduce students to the basic principles involved with two common modifications to the common law Rule Against Perpetuities: Wait-and-See and Cy Pres. The exercise assumes the student is familiar with Possessory Estates, Future Interests, and the common law Rule Against Perpetuities; it is suggested students work through those exercises first.
On completion of the lesson, the student will be able to:
1. State the Cy Pres Doctrine.
2. Explain how the Cy Pres Doctrine modifies the common law Rule Against Perpetuities.
3. State the Wait-and-See Doctrine.
4. Explain how the Wait-and-See Doctrine modifies the common law Rule Against Perpetuities.