Spring Valley Interests, LLC v. the Best for Last, LLC

Summary

The South Carolina Supreme Court held that the South Carolina Uniform Statutory Rule Against Perpetuities (SCUSRAP) was enacted to abolish the common law rule against perpetuities (CLRAP) and replace it, so the perpetual option at issue is not void under either rule. The Court reversed the Court of Appeals and remanded the waiver issue to the circuit court for further proceedings.