Little Rock Junior College v. George W. Donaghey Foundation

This is a suit for a declaratory judgment whereby the beneficiary of a trust asks that a deed in trust be construed. George W. Donaghey and his wife, Louvenia Donaghey, conveyed by a deed in trust to named trustees, “for the exclusive use and benefit of the present Little Rock Junior College,” certain real estate in the City of Little Rock. The deed provides, inter alia:

“It is the object and purpose of this deed to convey the property herein described to said Trustees, their successors and assigns for the purpose of creating a fund or foundation to be used for the sole and exclusive benefit…