Pray v. Babbitt

Plaintiff had judgment against defendant, as the executor of his deceased brother's estate, in the sum of $8,000; such sum represented the agreed value of certain Colorado property which plaintiff deeded to his brother in October of 1958 to provide security for a loan contemporaneously secured by the latter for an oil exploration venture. Trial was had on plaintiff’s theory that the decedent acquired the property in trust for plaintiff’s benefit until the loan was repaid; since the property was eventually lost through foreclosure (in 1964), after the institution of the action, plaintiff was…