Davenport v. Davenport Foundation

Holding

The court held that the trial court's grant of a nonsuit was erroneous because the trust instrument contained provisions that potentially violated the rule against perpetuities, and extrinsic evidence could support a finding that the trustees were granted a discretion to apply income for noncharitable purposes beyond the statutory period. It further held that the trust's severability clause could not save the offending provisions and that the statute of limitations did not bar the action.