Exxon Corp. v. McManus

The plaintiff, Exxon Corporation (Exxon), seeks specific performance of an option to purchase real estate contained in a lease of real property in Waltham, Massachusetts. Exxon entered into the lease in 1971 with the predecessors in title to the defendant, M. Claire McManus, (McManus) who is the current property owner.1 McManus contends that because the option to purchase vests more than twenty-one years after its creation, it violates the rule against perpetuities and is therefore void.

The case is before the court on cross motions for summary judgment. There are no disputed issues of fact,…