34 Md. 27 | Md. | 1871
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
If Morris held the stock as the agent and attorney of the appellees, it was his duty as such to transfer the stock to them upon their order to do so. If he held it as trustee, no trust having been declared, a trust resulted in their favor by operation of law and he was therefore justified in transferring it to them when directed by them to do so. The decree of the Court below must be affirmed.
Decree affirmed.