Completely and incompletely

constituted trusts

 Beneficiaries under a trust may be ‘volunteers’—

that is, pure recipients of bounty, for example,
where a person sets up a trust for family
members—or
 They may have given consideration—for example,
employees under a pension scheme
 Completely and incompletely
constituted trusts

 Where everything necessary has been done and the trust has, as it is said,
been completely constituted, it can be enforced equally by a person who has
given consideration and by a volunteer

 However, where the trust property is not vested in the trustee—that is, where
there is merely an undertaking or covenant to create a trust—although it may
be enforced by a beneficiary who has given consideration, it cannot be
enforced by a volunteer.