Davies

Plaintiff instituted this action on behalf of himself and four other beneficiaries under a certain declaration of trust for the purpose of securing declaratory relief as well as injunctive relief against the trustee in accordance with the provisions of section 1060 of the Code of Civil Procedure. From a judgment denying the relief sought and in favor of defendants, plaintiff prosecutes this appeal.

The appeal is taken on the judgment-roll alone. Therefore, whatever facts may be herein set forth for the purpose of establishing á background conducing to a clearer understanding of the points involved herein are necessarily taken from the findings of the trial court and from the pleadings.

From the record thus provided it appears that prior to August 2, 1926, defendants, Harry F. Carling and F. B. Zieglar were the owners of a tract of land in San Diego County. Plaintiff and his four associates proposed to buy the land for the sum of $315,000 intending to subdivide it and hoping that, from the sales of lots and parcels in the subdivision a sufficient amount would be realized from which to pay the purchase price and yield to them a profit on the undertaking. The owners of the land con…