Horse (P) was organized in 1945. P acquired property for members to conduct activities such as fishing and shooting. On December 9, 1958, P deeded its property to two of its members who conveyed it back to P the same day. The new deed contained restrictions on alienation: 100% of the Club or in the event the Club was dissolved, the alienation would be proper as well. The Club eventually qualified as a charity in 1981. As time passed, the area around the Club became residential, and a proposal was presented to keep part of the deed-restricted lands and swap the balance of the property for what became known as the Hollis land and pay $150,000 in three installments. Cormier, a member, voted against the deal. P then filed a bill in equity seeking a declaration that the deed was void as an unreasonable restraint against alienation. The court granted P's summary judgment. D appealed.

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