After Acquired Rights, Restraint on Alienation and Perpetuities Problems in Joint Venture Agreements
AbstractThe typical joint venture agreement has a schedule attached to it describing the lands that are subject to the agreement. To prevent a party from obtaining an advantage in the acquisition of adjoining lands as a result of information obtained from the joint venture, the agreement often contains an after acquired rights clause. There are many reasons why a party to a joint venture agreement desires the right to determine who its partners will be, and to accomplish this, the joint venture agreement usually contains a clause restraining alienation of the property subject to the agreement. This article discusses the use of after acquired rights clauses and restraints on alienation in joint venture agreements and concludes with a consideration of the effect of the Rule against Perpetuities on the after acquired rights clause.
Author(s) retain original copyright in the substantive content of the titled work, subject to the following rights that are granted indefinitely:
- Author(s) grant the Alberta Law Review permission to produce, publish, disseminate, and distribute the titled work in electronic format to online database services, including, but not limited to: LexisNexis, QuickLaw, HeinOnline, and EBSCO;
- Author(s) grant the Alberta Law Review permission to post the titled work on the Alberta Law Review website and/or related websites.
- Author(s) agree that the titled work may be used for educational or instructional purposes and/or in educational or instructional materials. The author(s) acknowledge that the titled work is subject to other such "fair dealing" provisions and applicable legislation.
- Author(s) grant a limited license to those accessing the titled work from an electronic database or an Alberta Law Review website to download the titled work onto their computer and to print a copy for their own personal, non-commercial use, subject to proper attribution.
To use the journal's content elsewhere, permission must be obtained from the author(s) and the Alberta Law Review.