perpetuity

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Perpetuity

A constant stream of identical cash flows without end, such as a British consol.

Perpetuity

Cash flows paid to a person or company on an ongoing basis that are expected to go on indefinitely. The cash flows ordinarily do not increase, and as a result become less valuable over time because of inflation.

perpetuity

A stream of payments that is expected to last indefinitely.

perpetuity

Never ending; forever. A legal principle called the rule against perpetuities says that transfers of interests in land must vest, if at all, within lives in being plus a gestational period and 21 years, or they are void.

References in periodicals archive ?
This rule waits to see what actually happens during the perpetuities period.
See Jesse Dukeminier, A Modern Guide to Perpetuities, 74 Cal.
A final general reform rule is that provided by the Uniform Statutory Rule Against Perpetuities (USRAP).
1992) (holding that the Rule against Perpetuities does not apply to an art dealer's right of first refusal and exclusive consignment right); Metropolitan Transp.
As the Appellate Division so trenchantly put it, there is "an irreconcilable conflict in applying a remedy which is designed to void a transaction because it fails to carry out the parties' true intent to a transaction in which the mistake made by the parties was the application of the Rule against Perpetuities, the purpose of which is to defeat the intent of the parties.
Lynn, Perpetuities Literacy for the 21st Century, 50 Ohio St.
Long-Term Options and the Rule against Perpetuities, 37 Cal.