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ESTATE OF JOHNSON v. CARR

No. 85-97.

691 S.W.2d 161 (1985)

286 Ark. 369

The ESTATE OF L.W. JOHNSON and Carutha Johnson, Appellant, v. Clarence CARR and Rosie Carr, his wife, Appellees.

Supreme Court of Arkansas.

July 1, 1985.

Attorney(s) appearing for the Case

Eugene Hunt, Pine Bluff, for appellant.

Wilton E. Steed, Pine Bluff, for appellees.

HAYS, Justice.

The primary question in this case is whether an option to repurchase contained in a contract for sale and incorporated by reference in a subsequent deed, violates the rule against perpetuities.

In July, 1966, L.W. and Carutha Johnson, appellants, entered into a contract with Clarence and Rosie Carr, appellees, for the sale of land. The contract provided in part:

... for an additional ten dollars and other good and valuable consideration...

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