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- Contract_Clause abstract "This article relates to an article of the United States Constitution. For terms of a legal contract, see Contractual term.The Contract Clause appears in the United States Constitution, Article I, section 10, clause 1. It states: 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.The Contract Clause prohibits states from enacting any law that retroactively impairs contract rights. The Contract Clause applies only to state legislation, not court decisions.The Framers of the Constitution added this clause in response to the fear that states would continue a practice that had been widespread under the Articles of Confederation—that of granting "private relief." Legislatures would pass bills relieving particular persons (predictably, influential persons) of their obligation to pay their debts. It was this phenomenon that also prompted the framers to make bankruptcy law the province of the federal government. During and after the Revolution, many states passed laws favoring colonial debtors to the detriment of foreign creditors. Federalists, especially Alexander Hamilton, believed that such a practice would jeopardize the future flow of foreign capital into the fledgling United States. Consequently, the Contract Clause, by ensuring the inviolability of sales and financing contracts, encouraged an inflow of foreign capital by reducing the risk of loss to foreign merchants trading with and investing in the former colonies. (See generally James W. Ely, Jr., The Guardian of Every Other Right (Oxford Univ. Press 1998).)".
- Contract_Clause wikiPageExternalLink USSC_CR_0010_0087_ZS.html.
- Contract_Clause wikiPageExternalLink case.html.
- Contract_Clause wikiPageID "1633804".
- Contract_Clause wikiPageRevisionID "606333274".
- Contract_Clause hasPhotoCollection Contract_Clause.
- Contract_Clause subject Category:Clauses_of_the_United_States_Constitution.
- Contract_Clause subject Category:Contract_Clause_case_law.
- Contract_Clause comment "This article relates to an article of the United States Constitution. For terms of a legal contract, see Contractual term.The Contract Clause appears in the United States Constitution, Article I, section 10, clause 1.".
- Contract_Clause label "Contract Clause".
- Contract_Clause sameAs m.05j9wz.
- Contract_Clause sameAs Q5165650.
- Contract_Clause sameAs Q5165650.
- Contract_Clause wasDerivedFrom Contract_Clause?oldid=606333274.
- Contract_Clause isPrimaryTopicOf Contract_Clause.