Matter of Lyon

In July, 1911, Alice Lafffin and her daughter, Nellie Lyon, entered into a written agreement which they declared binding upon and applicable to the heirs, executors, administrators and assigns of both parties. By this instrument Mrs. Lafflin agreed to convey to Mrs. Lyon all her real property. Mrs. Lyon agreed to advance the sum of $10,000 in order to relieve her mother’s financial pressure and to effect a discontinuance of foreclosure actions then pending, and to execute a declaration of trust to the effect that she would take title to this realty for the use and benefit of her mother. She…