Trust how
extinguished.

77. A trust is
extinguished—

(a) when its
purpose is completely fulfilled; or

(b) when its purpose
becomes unlawful; or

(c) when the
fulfilment of its purpose becomes impossible by destruction of the
trust-property or otherwise; or

(d) when the trust,
being revocable, is expressly revoked.

Revocation of trust.

78. A trust
created by will may be revoked at the pleasure of the testator.

A trust Otherwise
created can be revoked only—

(a) where all the
beneficiaries are competent to contract - by their consent;

(b) where the trust has been declared
by a non-testamentary instrument or by word of mouth—in exercise of a power of
revocation expressly reserved to the author of the trust; or

(c) where the trust is for the payment of the debts of the
author of the trust, and has not been communicated to the creditors—at the
pleasure of the author of the trust.

Illustration

A conveys property to B in trust to sell the same and pay
out of the proceeds the claims of A's creditors. A reserves no power of
revocation. If no communi­cation has been made to the creditors. A may revoke
the trust. But if the creditors are parties to the arrangement, the trust
cannot be revoked without their consent.

Revocation not to defeat what trustees have duly done.

79. No trust can be revoked by the author of the trust so as
to defeat or prejudice what the trustees may have duly done in execution of the
trust.