Reynolds Foundation v. . Trustees of Wake Forest

Proceeding under Declaratory Judgment Act to determine validity, meaning and construction of written contract, and to declare and announce the rights of the parties thereunder.

The contract follows:

"This agreement, Made this 16th day of November, 1946, by and between Z. Smith Reynolds Foundation, Incorporated, a charitable corporation, organized and existing under the laws of the State of North Carolina, hereinafter sometimes called the Foundation, and the Trustees of Wake Forest College, an educational corporation, organized and existing under the laws of the State of North Carolina,…