impairing the obligation of contracts

impairing the obligation of contracts
A law which impairs the obligation of a contract is one which renders the contract in itself less valuable or less enforceable, whether by changing its terms and stipulations, its legal qualities and conditions, or by regulating the remedy for its enforcement.
To "impair the obligation of a contract", within prohibition of Art. I, No. 10, U.S.Const., is to weaken it, lessen its value, or make it worse in any respect or in any degree, and any law which changes the intention and legal effect of the parties, giving to one a greater and to the other a less interest or benefit, or which imposes conditions not included in the contract or dispenses with the performance of those included, impairs the obligation of the contract. A statute "impairs the obligation of a contract" when by its terms it nullifies or materially changes existing contract obligations

Black's law dictionary. . 1990.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • impairing the obligation of contracts — A law which impairs the obligation of a contract is one which renders the contract in itself less valuable or less enforceable, whether by changing its terms and stipulations, its legal qualities and conditions, or by regulating the remedy for… …   Black's law dictionary

  • obligation — A generic word, derived from the Latin substantive obligatio, having many, wide, and varied meanings, according to the context in which it is used. That which a person is bound to do or forbear; any duty imposed by law, promise, contract,… …   Black's law dictionary

  • Constitution of the United States — the fundamental or organic law of the U.S., framed in 1787 by the Constitutional Convention. It went into effect March 4, 1789. * * * Fundamental law of the U.S. federal system of government and a landmark document of the Western world. It is the …   Universalium

  • Article One of the United States Constitution — United States of America This article is part of the series: United States Constitution Original text of the Constitution Preamble Articles of the Constitution I  …   Wikipedia

  • James Buchanan: The Impending Disruption of the Union — ▪ Primary Source       During the critical four months that intervened between Abraham Lincoln s election in November 1860 and his inauguration in March 1861, President James Buchanan, a Democrat, was faced with the problem of secession. The… …   Universalium

  • Contract — • The canonical and moralist doctrine on this subject is a development of that contained in the Roman civil law. In civil law, a contract is defined as the union of several persons in a coincident expression of will by which their legal relations …   Catholic encyclopedia

  • Bill of attainder — A bill of attainder (also known as an act or writ of attainder) is an act of legislature declaring a person or group of persons guilty of some crime and punishing them without benefit of a trial. The United States Constitution forbids both the… …   Wikipedia

  • contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… …   Black's law dictionary

  • contract — An agreement between two or more persons which creates an obligation to do or not to do a particular thing. As defined in Restatement, Second, Contracts No. 3: A contract is a promise or a set of promises for the breach of which the law gives a… …   Black's law dictionary

  • Contract Clause — United States of America This article is part of the series: United States Constitution Original text of the Constitution Preamble Articles of the Constitution I · …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”