322 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
- Two things have to be remembered in connection with a constructive trust used in this sense.
(i) Such a Constructive Trust is some times contrasted with an Express Trust. This is quite wrong. Such a Constructive Trust is really an Express Trust and is not to be contrasted with it. A trust is none the less an Express Trust because the language used by the settlor is ambiguous or clumsy, if, on the true construction of that language the Court comes to the conclusion that a trust must have been intended.
(ii) A trust which is constructive in the sense that the intention is deduced by constructing the document must not be confused with a Constructive Trust which is the result of the operation of the law. In the former there is an intention to create a trust and in that sense it is the result of the voluntary act of the party. In the latter there is no intention to create a trust. It is the creation of law and not of an act of the party.
Constructive Trusts fall into two sub-divisions :—
(i) Resulting Trusts.
(ii) Non-Resulting Trusts.
The difference between the two will be considered later when dealing with Constructive Trusts. They have one thing in common—they are both the result of the opperation of law and not the result of an act of party.
II. C OMPLETELY C ONSTITUTED T RUSTS AND I NCOMPLETELY C ONSTITUTED T RUSTS .
A trust is said to be completely constituted when the trust property is vested in the Trustees for the benefit of the beneficiaries. When there is a mere declaration of a trust but the property is not vested in the Trustee the trust is incompletely constituted.
The question whether a trust is completely constituted or not is of the utmost importance where no valuable consideration is given for its creation.
If value is given it is immaterial whether the trust is perfect or not, for as equity looks on that as done which has been agreed to be done an imperfect conveyance for value will be treated a contract to convey and the Court will see that it is perfected.
If no value is given there is no equity and the Court will not grant any assistance to a person seeking to enforce.