Z. Smith Reynolds Foundation, Inc. v. Trustees of Wake Forest College

Tbe parties have agreed on what they want to do. Tbe appellant craves final adjudication of tbe matters before assuming tbe risk of paying out trust funds. To tbis end, certain questions were propounded and answered in tbe court below. We are asked to review tbe answers and to say whether they are correct. Tbis we proceed to do.

Preliminarily, questions of status, power and authority of tbe parties were submitted for inquiry and determination.

I. ZachaRY Smith Reynolds Trust :

Tbis trust is found to be a valid and subsisting, charitable trust under tbe laws of tbe State of North Carolina. It was…