Lloyd v. Brooks

Grasos, J., delivered the opinion of the Court. The bill in this case was filed to enforce an alleged voluntary executed trust in favor of the appellant, and to compel John T. Morris, the alleged trustee, to restore the trust property, or to pay the value thereof in default of such restoration. Was there in this case a valid executed trust which a Court of Equity can enforce? Lewiií, in his treatise on Trusts, page 81, marg., lays down the rule that “a trust is not perfectly created where there is a mere intention, or voluntary agreement to establish a trust, the settlor himself contemplating some further act for the purpose of giving it completion.” This principle is too clear and well established to be seriously controverted.

See Bayley vs. Boulcott, 4 Russ., 345; Lister vs. Hodgson, Law Rep., 4 Eg. Ca., 33, 34; Gardner, and others, vs. Merritt, 32 Md., 78 . The proof in this case shows that the appellees intended to create a “trust ³⁴ at one time in favor of the appellant, and others, and that John T. Morris was applied to, and consented to act as trustee, and that two hundred and seventy shares of Baltimore and Ohio Railroad Stock were transferred to him as trustee; but the fact is proved beyond question that it was well understood by the appellees and Morris, that the trust was to be declared by deed, which Morris, as the attorney of the appellees, was instructed to prepare and did prepare and send on to them for execution. That deed was never executed by more than one of the appellees and was never delivered, but was destroyed.

In the cases of Bayley vs. Boulcott, and Lister vs. Hodgson, as in the case now before us, the party, who was charged with having created the trust, intended to create it by deed, and it was held in