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The article offers comments to Thomas Sargent's paper "Rational Expectations and the Term Structure of Interest Rates," which was published in part one of the February 1972 issue of this journal. According to the author, Sargent created a model of the term structure of interest rates, but limited the model by two additional confusing assumptions. The first assumption states that information consists only of the history of interest rates, is restrictive, since economists tend to note many other factors when discussing the outlook for future interest rates.

Focuses on the questions raised by a professor regarding the test under the New York law of perpetuities. Substitution of the test of alienability for the common law and test or remoteness in vesting; Limitations of personalty to a class; Nature of the Real Property Law.

Presents legal articles published in the United States. Vested and contingent remainders; Future interests in land; Federal jurisdiction in suits by individuals against states; Limitation of grounds for reversal for error.

Examines author John Chipman Gray's treatment of particular topics in the book "Rule Against Perpetuities". Gray's exposition of the distinction between vested and contingent remainders; Problems in the law of future interests; Determination of when a freehold interest limited after a term vested; Statement of the rule against perpetuities; Application of the rule to contingent remainders.

The article focuses on future interests in personal property in the United States. Property may be of either limited or unlimited duration. At least, this is the doctrine of common law with regard to land. Property in land is called an estate. Owing to familiar doctrines of the feudal law, the only future estates of realty which the law originally allowed were estates which fitted on to previous estates, without cutting them short, or leaving a gap. There was no tenure, and there were no estates, in chattels personal ; absolute property was the only kind of property recognized.

Discusses the case of "Edgerly v. Barker," decided by the Supreme Court of New Hampshire with regards to a will involving the Rule Against Perpetuities. Novel doctrine of the New Hampshire court; Departure of the court from the law held in other states; Fallacy contained in the new doctrine; Examination of the cases supposed to be analogous; Applications of the doctrine.

Presents the author's reply to comments on his paper on the Rule against Perpetuities published in the sixth volume of the "Harvard Law Review" periodical. Criticism citing that the true object of the Rule against Perpetuities is to restrain the creation of future conditional interests that is not aimed directly at preventing the non-alienation of property; Remoteness of charitable gifts; Implications on law.

Discusses several legal cases in the U.S. Judicial legislation; Right to privacy; Case under the Rule against Perpetuities.

Presents several cases presented for review by Harvard Law students in Cambridge, Massachusetts. Remedial actions for injuries caused by violations of the Safety Appliance Act; Basis for ascertaining when property subject to a future interest is acquired during determination of capital gains for Federal income taxation; Implications of the ambiguity of the word acquired when applied to property subject to future interests on judicial interpretation.

Examines legislation in the U.S. as of February 1933. Legislative interference with the rule against perpetuities; Tolling the statute of limitations during the debtor's absence.

The article presents notes from lectures delivered as part of the regular course of instruction in the law schools of the U.S. The Treaty of Berlin, restoring friendly relations with Germany, is a skeleton structure. It confirmed the state of peace, but did not set forth the details of a peace settlement. Instead, it secured to the U.S. and those she would have obtained under certain Parts of the Treaty of Versailles. The problem of acceleration of a future interest arises as a result of the failure or premature termination of the preceding estate. If the future interest is vested and subject to no condition of defeasance, it is well settled that the doctrine of acceleration will be applied.

The article cites courts rulings including the case "Fletcher v. Los Angeles Trust &: Savings Bank" dealing with estates and future interests, "Lewis Oyster Co. v. West" a rule against perpetuities, "Title Guarantee & ° Trust Co. v. Garrot" which deals with conditions that restrain alienation.

Suggests rules concerning future interests in the United States. Rule in the descent of a reversion and remainder; Difficulty arising from the rule against perpetuities; Rule restricting the transmissibility of remainders; Separability of limitations; Policy against remoteness;

The article discusses the limitations of powers related to perpetuity. It informs that it is a familiar rule that a limitation of a future interest in property that restrains the owner from alienating the property absolutely is not valid unless it is to vest, if at all, within the legally prescribed period from the time when the instrument containing the limitation takes effect. It further adds that this period is fixed by the duration of a life or lives then in being and twenty-one years afterwards.

Provides information about the standard forms of leases for shopping centers and other new construction which contain similar provisions with protection under the Rule Against Perpetuities in Oakland, California. Decision of municipal bodies to build a convention hall and banquet building and to lease the same to a management company; Existence of the option leaves the owner with an unsalable estate which he cannot afford to develop; Derivation of the equitable future interest of the option holder.

The article discusses the nature of the desirable statutory remedy for the common law Rule against Perpetuities with reference to a Massachusetts statute. The statute seeks more rational application of the rule and elimination of certain anomalous exceptions and extensions. According to the Rule, the determination of the validity of an interest is done prospectively. The statute permits the court to examine the facts that actually occur. It also seeks to change the penalty for the violation of the Rule. It allows the court to reform the gift so that the testator's wishes are carried out to the maximum extent allowed by the Rule.

Discusses the common-law rule against perpetuities in the United States. Evidence of certain good qualities in the rule; Penalty for violating the rule; Application of the rule against perpetuities to options; Possibilities of reverter and rights of entry exempted from the rule; Practical problem of judicial administration.

The article discusses the distinction between the conventional and some of the suggested methods of reporting fixed assets as they affect business income. This is done by presenting an article by professors R.L. Dickens and J.O. Blackburn published in the April 1964 issue of the journal The Accounting Review. These published accounts aid stockholders and other outsiders to project the future earnings and financial condition of the corporation and to assist with the evaluation of the performance of management. According to the author, as the individual requirements of different users of published accounts are unlikely to be cognate, one set of accounts will scarcely fulfill the needs of all stockholders and other outsiders, no matter how "objectively" the asset values contained therein are determined. He suggests that replacement cost, "realizable value," "historic cost," and "historic cost adjusted for price level changes," can provide a basis upon which stockholders and other interested external parties can project the earnings and financial condition of the enterprise according to their own requirements.

The article discusses the expectancy of reinforcement in change and skill tasks under motor handicaps. In terms of social learning theory, there is little reason to suppose that disabled individuals are less able than their nondisabled counterparts to accurately gauge their probable effectiveness. Given an equal number of learning trials or experiences followed by accurate feedback, both groups should form accurate expectancies for future performance. While it is possible that children may not have formed necessary learning sets to deal effectively with novel expectancy problems, adults should be better equipped to do so.

Focuses on the enactment by the Pennsylvania Legislature of a new approach to statutory modification of the Rule against perpetuities. Aim of correcting existing inequities in the common law; Validity of future interests; Appropriateness of the statutory change; Interpretation of the statutory change.

Presents the case, Knightsbridge Estates Trust Ltd. v. Byrne, regarding the right of a mortgagor within the Rule against Perpetuities. Facts of the case; Overview of the court's decision; Analysis of the case.