This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 edition. Excerpt: ... would put a stop to commerce and prevent the circulation of the riches of the kingdom, and, therefore, is not to be countenanced in equity. See 1 Vern. 164.--I have thought it proper in this case to explain why the law is unfavourable to perpetuities; but it has, nevertheless, long been an established ...
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1835 edition. Excerpt: ... would put a stop to commerce and prevent the circulation of the riches of the kingdom, and, therefore, is not to be countenanced in equity. See 1 Vern. 164.--I have thought it proper in this case to explain why the law is unfavourable to perpetuities; but it has, nevertheless, long been an established practice, to consider those who are in the possession of lands, under leases for lives or years, as having an interest beyond the subsisting term; and this interest is usually denominated the tenant-right of renewal, which, though asl before have said, not any certain or even contingent estate, (there being no means of compelling a renewal;) yet it is so adverted to in all transactions relative to leasehold property, that it influences the price on sales, and is often an inducement to accept of it in mortgages and settlements. This observation is more especially applicable to leases from the Crown, the Church Colleges, or other Corporations, and, indeed, from private persons, where the tenure is of ancient date, and there have been frequent renewals, or what are in effect the same, successive enlargements of the term in being by reversionary grants, by which the lease is never suffered to run out entirely, each renewal being not p roperly a new lease, but only a continuation of the first lease. See Randall v. Russell, 3 Mer. 190; also Co. Litt, 290 b. n. 1. s. 9. In all these kind of estates, the tenants, by custom, have a sort of a tenant-right of renewal. In the case of copyholds, the freehold remains in the Lord, and the copyhold tenant is considered as tenant at will, according to the custom of the manor, and, therefore, he has no right beyond that of a mere tenant at will, but such as the custom gives him. This tenant-right of renewal, ..
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