Seth owned Slateacre, a rental property in Rock City that generated steady income. After Seth's second child was born, Seth properly executed a will containing the following disposition of Slateacre: "To Truman in trust to pay the educational expenses of my children, but if any of them do not graduate from Rockville University by the age of 30 , then for the benefit of Rockville University's scholarship fund for residents of Rock City." When Seth died, he had three children, all preschoolers. The jurisdiction in which the parties and property are located retains the common law Rule Against Perpetuities. Is the gift in trust to Rockville University valid?
A. Yes, because the gift is a valid charitable trust.
B. Yes, because the doctrine of cy pres is applicable.
C. No, because the gift is not for a valid charitable purpose.
D. No, because the gift violates the Rule Against Perpetuities.
Choose A, B, C or D as your solution.
A