98. Directions for settlement.

(ii)     Void Restrictions on Valid Limitations

98.     Directions for settlement.

If there is a direction, not by way of executory trust, that property limited to any person is to be settled on him and his issue on trusts which fail for remoteness, the direction for settlement on the issue is inoperative and may be rejected so long as there is a good absolute gift to the person in the first instance1; but, where there is no such absolute gift, the limitation fails2. Where, however, the trusts arise under an instrument to which the Perpetuities