Girard Trust Co. v. Russell

Citations

• 179 F. 446
• 102 C.C.A. 592
• 1910 U.S. App. LEXIS 4661

Syllabus

<p>1. Charities (§ 2*) — Construction and Validity — What Law Governs.</p> <p>An agreement or other instrument creating a charitable trust is to be construed and its validity determined by the law of the state where made and to be executed.</p> <p>[Ed. Note. — For other cases, see Charities, Cent. Dig. § 2; Dec! Dig. § 2.*]</p> <p>2. Perpetuities (§ 8*) — -Rule as to Trusts for Public Charities.</p> <p>A liberal rule of construction is applied to trusts for public charitable purposes, and they will be sustained where private trusts would be held invalid as in violation of the rule against perpetuities.</p> <p>[Ed. Note. — For other cases, see Perpetuities, Cent. Dig. §§ 57-66; Dec. Dig. § 8.*]</p> <p>3. ©rarities (§ 14*) — Purpose of Gift — Payment of Debt of State.</p> <p>A gift in trust for the payment of the debt of a state, if not defeated by illegal provisions, is a good charitable gift.</p> <p>[Ed. Note. — For other cases, see Charities, Cent. Dig. § 38; Dec. Dig. § 14.*]</p> <p>4. Perpetuities (§ 8*) — Remoteness of Gift to Charity — Accumulations.</p> <p>Where a gift to charity is absolute, and the gift and the constitution of the trust for charity are contemporaneous and immediate, the fund may then perhaps be accumulated, subject to reasonable control by a court of equity; but where the accumulation is a condition precedent to the vesting of the gift in charity, and the period of accumulation transgresses the rule against remoteness, the gift is void ab initio.</p> <p>[Ed. Note. — For other cases, see Perpetuities, Cent. Dig. §§ 57-63; Dec. Dig. § 8.*]</p> <p>5. Perpetuities (§ 8*) — Validity op Charitable Trust — Remoteness.</p> <p>A settlor deposited money in trust, to be “accumulated for the benefit of the state of Pennsylvania in the way and manner hereinafter mentioned.” The trust agreement then provided that the trustee should invest the money and, all its accumulations in the public stocks of the state whenever they could he purchased within a certa