MR. CHIEF JUSTICE WAITE after stating the case as above reported, delivered the opinion of the court.
The question which meets us at the outset is whether the trust in favor of Palmer, on which the case depends, has been sufficiently established. A statute of Michigan provides that "express trusts may be created for any or either of the following purposes:
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"5. For the beneficial interest of any person or persons, when such trust is...
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