PERPETUITIES, LAW AGAINST, consists in a rule adopted in England to the effect that property cannot be tied up for a period longer than the lives of some parties already in existence, and 21 years more. Those who have the power of disposing of then' prop erty have often attempted to regulate the succession of their estate at distant periods. Such was the object of the original practice of entailing property, and so enforcing the devolution of property on a certain series of heirs to the remotest generations. This power of testators was always looked upon with jealousy, as tending to embarrass future dealings with the property, and frustrate tire purposes for which property is established. So early as the reign of Edward IV. a decision was come to by the courts in Taharum's case, which had the effect of allowing the first tenant in tail in remainder, on arriving at majority, to disentail estate at discretion. Hence, in England, there has been ever since uo mode of settling property in any way so as to tie it up beyond the life of the first i who takes an estate of freehold, and the nonage of the tenant in tail next in remainder i.e., the lives of persons in existence, and 21 years more. This principle applies not only
to land, but to personal property. As to the accumulation of the income of property, an atte npt was made by the late Mr. Thellusson to create an immense fortune by directing tim income of his property to be accumulated during the lives of all his children, grand children, and great-grandchildren, who were living the time of his death, for the ben tit of some future descendants, to be living at the death of the survivor. The Probable amount of the accumulated fund was expected to be 19 millions. The will was in great measure defeated by the existing law, but in consequence of so conspicuous an attempt, au act of parlianymt was passed, called the Thellusson act (39 and 40 Geo. III. c. 98). which in future forbids the accumulation of income for any longer time than the life of tire grantor or settler, or 21 years from his death. In Scotland, so far from the above doctrines having been early adopted„the contrary doctrine was established. See ENTAIL.