Read v. GHDC, INC.

Clarke, Justice.

This case involves the enforceability of a real estate sales contract and raises the questions of contract construction and applicability of the rule against perpetuities. The trial court noted the contract as amended contains no time limitation for its performance and held that it violates the rule against perpetuities. We construe the contract as one which must be performed within a reasonable time and therefore does not violate the rule even if the rule should apply to commercial contracts for the sale of real estate.

The contract between GHDC, Inc., as seller, and Read, as…