District Court of Appeal of Florida April 14, 1987, Nos. 86-1613, 86-1695 (Brown v. Schade)

BASKIN, Judge.

Robert Schade, one of the participants in a land development venture, sued James Brown, another participant, who had been named trustee in the “MEMORANDUM TRUST AGREEMENT” executed by the parties. The agreement states: “the undersigned have pooled their funds in the manner hereinafter specified for the purpose of investing jointly in parcels of real estate” and “James M.