874. Equitable interests under contracts.

874.     Equitable interests under contracts.

The doctrine of trusts applies also to contracts; and, where equity can spell out of a contract made between A and B for the benefit of C the construction that B intended to contract as trustee for C, even though nothing was said about any trust in the contract1, C is a beneficiary under the contract and is allowed in equity to enforce it2. Thus under articles of partnership a trust may be created in favour of the widow of one of the partners3 and, on the same principle, where charterers of