This is a lot of inside-baseball stuff to me. I don’t see contracts being nullified outside the bankruptcy process, which is as it should be. If you want to get excited about something, how about we start enforcing the Enumerated Powers clause?
The refusal to honor the contract clause is one of the main reasons for the litigation explosion in the United States.
People are not allowed to sign binding contracts, for example to insure they will not sue.
This is third world stuff the U.S. has been doing.
But, if will take a lot of education to keep people from signing a contract with a lot of fine print, based on the hard sell of a salesman.
Look at the insanity people get into with Time-Shares.
The Supreme Court is obligated to protect and defend reasonable interpretations of the Constitution.
And if the states don’t like what the Constitution says then they can appropriately amend the Constitution.
Note that many constitutional amendments were inspired by a Supreme Court ruling.
I am not sure they can overturn the status quo now. For one thing, a lot of the financial market would collapse as people sue to enforce “nullified” contracts.
It needs to be applied to premarital contracts.
Contract law. Part of the actual, supreme law of the land.
SCOTUS has _no_ authority to amend USConstitution, at all.
Either SCOTUS finds USConstitution to be supreme over all politics, policy and unlawful law,
or SCOTUS is an enemy of USConstitution.
USConstitution, defend it, or you are an enemy of it.
We The People can lawfully, amend it using provisions, therein. Mere congressional _law_ or policy do not amend it.
obama and the GM/UAW bailout/bankruptcy
The interjection of the government, via FEMA, is precisely what the revolting Dodd-Frank law implemented. There is no constitutional authority for the government to interject themselves into the contractual agreement between a lending institution and a homeowner. However, Dodd-Frank directed that this be done, and lenders had to implement it.
My home was devastated by flood, for which I had private flood insurance. That is a contractual agreement. I have a contract with a lender, called a mortgage, also a contractual document. The government interjected themselves directly into both of these private contracts. Following the flood, the proceeds from the insurance I paid for were held, citing Dodd-Frank, and I had to submit voluminous documentation to have even one dollar released to me for restoration.
This administration was to get congress to repeal Dodd-Frank. I have written my congressman and my senators. Crickets.
Dodd-Frank is still law.
Constitution, Article 1 Section 10:
“No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.”
Sounds like we should still be using gold and silver backed currency and not this fiat crap.
I don’t recall Article 1 Section 10 being repealed.
The Supreme Court upheld Obamacare - which is a violation of ths Contract Clause.
And today, we have ads blaring out that they have info “the credit card companies don’t want you to know - you don’t have to pay off your debts....”