Kendall v. Kendall

We are required to construe a declaration of trust.

On December 30,1938, John Kendall and Frances M. Kendall, husband and wife, then being, respectively, seventy-five and seventy years of age, executed a declaration of trust wherein it was recited that they each owned 477 shares of the common stock of the Standard Lumber Company and that their, combined total of 954 shares represented a controlling interest in that company. (There were a total of 1,740 shares outstanding.) By that instrument, they each assigned their 477 shares to their three children, Frank C. Kendall, Homer B. Kendall, and…