George Washington
At the end of his second term, Washington retired for personal and political reasons, fatigued and disgusted with personal attacks, and to assure a truly contested presidential election could be held. He did not feel bound to a two-term limit, but his retirement ultimately set precedent. The two-term limit to the presidency was formalized with the 1951 adoption of the Twenty-second Amendment to the United States Constitution. Washington is often credited with setting the principal of a two-term presidency, but it was Thomas Jefferson who first refused to run for a third term on political grounds.
United States presidential line of succession
The statute provided that the presidential successor would serve in an acting capacity, holding office only until a new president could be elected. A special election was to be held in November of the year in which dual vacancies occurred (unless the vacancies occurred after the first Wednesday in October, in which case the election would occur the following year; or unless the vacancies occurred within the last year of the presidential term, in which case the next election would take place as regularly scheduled). The persons elected president and vice president in such a special election would have served a full four-year term beginning on March 4 of the next year; no such election ever took place.