Coulter & Smith, Ltd. v. Russell

On Certiorari to the Utah Court of Appeals

DURHAM, Associate Chief Justice:

We granted Coulter & Smith, Ltd.’s (Coulter) petition for a writ of certiorari to review the Utah Court of Appeals’ invalidation, under the rule against perpetuities, of Coulter’s option to purchase land from respondent Roger Russell. We also granted Russell’s cross petition for certiorari to determine whether the court of appeals correctly held that Coulter’s option was supported by consideration. We affirm in part, reverse in part, and remand this case to the court of appeals for proceedings consistent with this…