Wong v. Di Grazia

We hold here that an agreement which provided that the lease of a building to commence “upon completion of said building” does not violate the rule *528against perpetuities. (Civ. Code, § 715.2.)1 The nature of the circumstances of the transaction shows that the contemplated building was to be completed within a reasonable time and that such reasonable time was less than 21 years. Hence the interest would either vest or fail within the statutory period. As to the remaining issues upon appeal we believe the trial court property held that the duty of installation of a sprinkler system fell upon the…