PART III THE RULE AGAINST PERPETUITIES Chap. 15. The Rule Against Perpetuities. Chap. 16. Interests Subject to the Rule. Chap. 17. Powers and the Rule Against Perpetuities. Chap. 18. Chap. 19. Gifts to a Class and the Rule Against Perpetuities. Cases where the limitations did not violate the rule.... $351 Preliminary Discussion 325. The power to create future estates has already been noticed. The estates or interests, legal and equitable, in realty and personalty, which may be created under that power have been discussed and classified.2 At the risk of some repetition, it may be observed at this point that this power was originally conceived of as a power to divide the absolute ownership, and at that time the notion of a future interest had not been introduced into the law. The fundamental conception has changed. The obstacles to the division of the fee or absolute ownership, which obstacles. obstacles were probably more metaphysical than feudal, have practically disappeared," and in modern times the power to create future estates is easily conceived of. The principle of public policy which demands the restraint on this power expresses itself in the rule against perpetuities—perhaps more accurately designated as the rule forbidding the creation of a perpetuity. It is to this part of the subject that our attention will now be directed. The law relating to the rule against perpetuities in Pennsylvania is, with very few exceptions, plain and well settled. The student will have no difficulty in mastering this part of the subject aside from that arising from the subtlety of the subject itself, and the practitioner can advise his clients with a confidence which is in refreshing contrast to the doubts he feels when advising them on the law treated in many other parts of this book.? 1 See §5, ante. 2 See Chap. 3 as to future legal interests in real property, Chap. 4 as to future legal interests in personal property, and Chap. 7 as to trusts. 3 See $36, et seq., ante. * See §39, ante. 5 See §§115, 116, ante. See §§11-14, ante. 7 The learned reader will remark at the small number of cases which have arisen on the rule against perpetuities, in contrast with the abundant crop of litigation noted under Part II. The difference is |