Hickman v. Trust of Heath, House & Boyles

Steele Hays, Justice.

Appellants brought this suit in equity to have certain writings declared to be an express trust for their benefit. The trial court held the evidence was insufficient to establish that the plaintiffs were designated beneficiaries and they appeal from that order. We affirm the chancellor.

Heath & Scarbrough Construction' Company, Inc., owed $19,171.08 to each of its three stockholders, James Heath, J.O. House and Mason Boyles. Each stockholder held a promissory note from the corporation.

On November 6, 1973, at a special meeting of the directors of Heath & Scarbrough, the…