Wolfe v. North Carolina Joint Stock Land Bank

To create a parol trust there must be an agreement amounting to an undertaking to act as agent in tbe purchase and constituting a covenant to stand seized to tbe use or benefit of another.

“Tbe jurisdiction to enforce tbe performance of trusts arises where property has been accepted by one person on terms of using or bolding it for tbe benefit of another.” Reynolds v. Morton, 205 N. C., 491, 171 S. E., 781; Shelton v. Shelton, 58 N. C., 292; Riggs v. Swann, 59 N. C., 118; Lefkowitz v. Silver, 182 N. C., 339, 109 S. E., 56; Lutz v. Hoyle, 167 N. C., 632, 83 S. E., 749; Wilson v. Jones, 176 N.…