Comstock v. Smith

George Rose Smith, Justice.

In 1969 Grace Buffing-ton sold a house and lot in the city of Benton to the appellants, Mr. and Mrs. Walter Comstock. The purchase price was to be paid in monthly installments. Mrs. Buffington died testate in 1971, leaving her interest in the property to her sister, the appellee Alcye Smith. Mrs. Smith brought this suit to cancel the contract. The chancellor found the agreement of sale to be void, as a violation of the rule against perpetuities. Whether that finding is correct is the principal issue here.

The facts are undisputed. For 25 months before the sale the…