John M. Dixon v. Edward A. White and Joan White

DUFFY, Circuit Judge.

In this suit, plaintiff sought a judicial declaration that a trust exists for the benefit of plaintiff with one or both of the defendants as trustee. In substance, the complaint alleges that during 1952, plaintiff entrusted $1500 to defendants, and that there was an oral agreement whereby plaintiff would cancel the obligation to repay in consideration of the promise of defendants to cause beneficial ownership of stock in Bowmar Instrument Corporation (Bowmar) to be vested in plaintiff, but that defendants would remain the record owners, holding said shares in trust for…