Trustees of Watts Hospital v. Board of Commissioners

Equity looks at substance, and not form. When subsequent changes in conditions not anticipated by the creator of a trust threaten the destruction of the trust and the loss of the trust estate, a court of equity has power to modify the terms of the trust to the extent necessary to preserve the trust estate and to effectuate the primary purpose of the creator of the trust. Hospital v. Cone, ante, 292, 56 S.E. 2d 709; Redwine v. Clodfelter, 226 N.C. 366, 38 S.E. 2d 203; Duffy v. Duffy, 221 N.C. 521, 20 S.E. 2d 835; Penick v. Bank, 218 N.C. 686, 12 S.E. 2d 253; Cutter v. Trust Co., 213 N.C. 686,…