Style: Constraints - In-line Vs Out-of-line?

My question is about coding style for specifying constraints when creating tables.

Two styles for defining constraints:



In-line:
CREATE TABLE Fruit
(
FruitID INT IDENTITY(1,1)
CONSTRAINT PK_fruit PRIMARY KEY CLUSTERED,
FruitName NVARCHAR(50),
FruitTypeID INT
CONSTRAINT FK_fruit_fruit_types FOREIGN KEY
REFERENCES FruitTypes (FruitTypeID) ON UPDATE CASCADE,
DateCreated DATETIME DEFAULT GETDATE()
)
Out-of-line:
CREATE TABLE Fruit
(
FruitID INT,
FruitName NVARCHAR(50),
FruitTypeID INT,
DateCreated DATETIME
)

ALTER TABLE Fruit ALTER COLUMN FruitID INT NOT NULL

ALTER TABLE Fruit ADD
CONSTRAINT PK_fruit PRIMARY KEY CLUSTERED (FruitID),
CONSTRAINT FK_fruit_fruit_types FOREIGN KEY (FruitTypeID)
REFERENCES FruitTypes (FruitTypeID),
CONSTRAINT DF_fruit_date_created DEFAULT
GETDATE() FOR DateCreated

Which style do you prefer and why?