THE LAW OF TRUST 321
The Religious Society’s Act I of 1880.
The Official Trustee Act II of 1913.
The Charitable Endowments Act VI of 1890.
The Charitable and Religious Trusts Act XIV of 1920.
Different kinds of Trusts
Trusts fall into different classes. The class into which a trust falls depends upon the point of view a trust is looked at—
A trust can be looked at from three points of view—
(i) From the point of view of the mode in which a trust is created.
(ii) From the point of view of the constitution of the trust.
(iii) From the point of view of the nature of the duty imposed on the trustee.
From the point of view of the mode in which a trust is created trusts fall into two divisions (i) Express and (ii) Constructive.
From the point of the constitution of a trust, trusts fall into two divisions (i) completely constituted trusts and (ii) incompletely constituted trust.
From the point of view of the nature of the duty imposed on the trustee trusts fall into two divisions (i) Simple Trusts and (ii) Special Trusts.
I. E XPRESS AND C ONSTRUCTIVE T RUST
- A trust can arise in two ways—
(i) It is the result of a voluntary declaration made by an individual,
(ii) It may be the result of a rule of law.
When a trust is the result of a voluntary declaration it is called an Express Trust or Declared Trust. When a trust is the result of a rule of law it is called a Constructive Trust.
The term Constructive Trust is used in another sense. In this sense it is used to signify a trust which is the result of a construction put upon the deed. A trust is a matter of intention. Intention may be declared in specific terms or it may be found by the Court to have been indicated by the party on a proper construction of the deed. In the latter case the trust is sometime called a Constructive Trust.