Hazelbud

Ivan Blair Hazelbud opened a savings account in a bank at Bakersfield on October 9, 1928. In open ing the account the bank took his signature on a printed card headed “Trust Fund Savings Account” by the terms of which he agreed that all savings deposited in this account and the dividends thereon should be governed by the by-laws of the bank, and he appointed the bank “trustee under the terms of the trust set forth on the reverse side of this card”. On the reverse side of the card was the following:

Hazelbud died on October 2, 1934, leaving a widow, Anna Hazelbud, to whom he was married on September 12, 1931.

It was stipulated, and found by the court, that the said Ivan Hazelbud made additional deposits in said account and withdrew money therefrom from time to time; that he kept in his possession at all times a pass or savings account book which was in the ordinary form and which contained no mention of any trust account; that the bank had no signature of anyone else who was authorized to draw from this account; that Lois Fay Morris had no knowledge of said account or of the trust agreement referred to until after the death of Ivan Hazelbud; that all funds deposited in said…