Knights of Equity Memorial Scholarships Commission v. University of Detroit

The controlling issue in this case is whether a trust has been created or an ordinary contract executed.

The matter arises thus: The Knights of Equity was an organization devoted to the advancement and welfare of persons of Irish descent. It owned certain property in the city of Betroit. In 1924, the corporation (“the old Knights of Equity corporation”) was being dissolved. It had no further use for its property. • Various dispositions thereof were considered (including sale and pro rata distribution of the proceeds to the then members) but all, save one, were rejected.' That is the one before…