1. The trust here is valid notwithstanding the reservation of income to the settlor and the reservation by him to revoke the same. The reservation of such powers is not inconsistent with the passing of title to the property to the trustee.
2. Defendants are estopped from questioning the status of the complainant trustee as a stockholder or to question the validity of the trust arrangement. They permitted the stock to be transferred to the trustee on the books of the company and a certificate to be issued to her, and dividends were paid to her as a stockholder.
3. The portion of the answer claiming that the indebtedness of the creator of the trust bears interest is not a defense. The agreement, to which defendants were parties, annexed to the bill of complaint and admitted by the answer, expressly provides that the debt shall not bear interest. This provision was not limited to the lifetime of the creator and continued after his death.
4. The answer that a statement of account was furnished complainants' solicitors does not present a defense. That does not deprive them of their right to a legal accounting under oath.
PER CURIAM.
The decree appealed from is affirmed, for the reasons stated in the opinion filed in the Court of Chancery.
For affirmance — THE CHIEF-JUSTICE, BODINE, DONGES, HEHER, COLIE, WACHENFELD, EASTWOOD, BURLING, WELLS, DILL, FREUND, McGEEHAN, McLEAN, SCHETTINO, JJ. 14.
For reversal — None.