A Common-law Trust is non-statutory. That means the Common-law Trust does not depend on any statute of any state or the federal government for it creation or existence. It is created and exists by the will of people, in its own private domain or realm, and conducts its affairs in private (its books and records are not open to public inspection). It seeks neither corporate privileges and immunities nor the privileges and immunities of any other statutory business entity created by a state or the federal government.

“A Trust organization created under the U.S. Constitutional right of contract cannot be abridged. The agreement, when executed creates a Federal organization not under the laws passed by any of the (State) legislatures.

Crocker v McCourt, 649 U.S. Sup. 39 at 270

These Trusts- whether pure trust or partnership- are unincorporated. They are not organized under any statute: and they derive no power, benefit, or privilege from any statute." 

Hecht v Malley, 68 949

“The fact that a business trust is not regarded as a legal entity distinct from its trustees, if a true trust...may result in this advantage to the trust, which a corporation does not possess: The trust consists of Citizens, and who therefore, are entitled to certain rights and immunities such as those guaranteed by the privileges and immunities clauses of the Federal Constitution, which do not apply to Corporations.” 

Morrisey v. Commissioner of of Internal Revenue, 296 us 344 (1935)

“Business trusts are not entities apart from the trustees”  

Swartz v Sher, 344 Mass 636 184 NE 2d 51.

“The Common Law Trust, when used to operate a business, is not a corporation as stated in Darling v. Buddy, 1 SW 2d 163; 318 Mo. 784. It is not incorporated according to the case of Crocker v. Malley. 265 US 14.

The Trust instrument should be considered as analogous to a corporate charter and just as broadly interpreted as held in 

Bomeisler v. Jacobson & Sons Trust, 118 F 2d 261.

A Pure Contract Trust is not subject to legislative control. The U. S. Supreme Court holds that Trust relationship comes under the realm of equity, based upon the common law, and is not subject to legislative restrictions as are corporations and other organizations created by legislative authority. 

Elliot v Freeman, 220 U. S. 178

The Common Law Tust derives no power, benefit or privilege from any statute according to Crocker v. Malley, 264 US 144; Eliot v. Freeman, 220 SW 178; Betts v. Hackathorn 252 SW 602, 31 ALR 847; Goldwater v. Oltman, 292 p 624; Gleason v. McKay, 134 Mass 419. 

The few state constitutional provisions that declare "the term corporation...shall be construed to include all services...having any powers of corporation not possessed by individuals..." has not made the contract trust illegal as held in State ex. rel.

 Great American Home Savings v. L 23

One of the objectives of a business Trust is to obtain for the trust associates, most of the advantages of corporations without the authority of any legislative act and with the freedom from restrictions and regulations generally imposed by law upon corporations."

Am Jur 2nd page 379, Paragraph 51

"Trust or trust estate is a legal entity for most all purposes as are common law trusts." Burnett v. Smith, 240 S.W. 1007 (1922)

A person may exchange assets, or any portion thereof, for Trust Certificates. This is a tax-free exchange. The supreme Court ruled if property received in exchange has no fair market value, it does not represent taxable gain to the recipient. "...if property received in exchange has no fair market value, it does not represent taxable gain to the recipient." 

Burnett v. Logan, 283 US 404.

The Common-law Trust is specifically recognized in the Laws of Florida and many of the other 49 states and is recognized in all 50 states under the “full faith and credit” clause of the federal Constitution that in Article 4, section 1, states in pertinent part that:

“Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State.”

The formation and administration of a Common-law Trust is an Act and a Record in the state in which it was created.

"Once the Pure Trust (contractual agreement) has been recorded in one county, it can conduct business in any county in any given state." 

Shirk v. Lafayette. 52 F 957.

The trustees of a trust have all the power necessary to carry out the obligations they assume. Their consulting services and records are not subject to review or subpoena. 

Boyd v U.S. 116 U.S. 618 and Silverthorne Lumber co. v US, 251 U.S. 385

The Court will support the trustees in carrying out the terms of their trust contract and agreement. 

Clew v. Jamison, 182 U.S. 461, 21 S. Ct 645.

3 SW 20, 288 Mo. 679.