wait-and-see doctrine


wait-and-see doctrine
A rule that permits consideration of events occurring subsequent to the inception of an instrument that pertains to the vesting of a future interest. If the specified contingency on which the creation of the interest depends actually occurs within the period of the RULE AGAINST PERPETUITIES, the interest is legally enforceable.

Dictionary from West's Encyclopedia of American Law. 2005.


wait-and-see doctrine
A rule that permits consideration of events occurring subsequent to the inception of an instrument that pertains to the vesting of a future interest. If the specified contingency on which the creation of the interest depends actually occurs within the period of the rule against perpetuities, the interest is legally enforceable.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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