Vested Rights; Selected Cases and Notes on Retrospective and Arbitrary Legislation Affecting Vested Rights of Property

Vested Rights; Selected Cases and Notes on Retrospective and Arbitrary Legislation Affecting Vested Rights of Property

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 edition. Excerpt: ...2 Cold, 108. The power and efiicacy of the law which applies to and imposes performance of the contract or the payment of an equivalent. National Bank v. Sebastian County, 5 Dill.,414. The duty which the law at the time of making it imposes upon the parties. Weil v. State, 46 Ohio St, 450; Curran v. Arkansas, 15 How., 304; McMillan v. Sprague, 4 How. (Mim), 647. 1042. The obligation of a contract includes everything within its obligatory scope. Among these elements nothing is more important than the means of enforcement. This is the breath of its vital existence. VVith0ut it the contract, as such, in the view of the law, ceases to be, and falls into the class of those imperfect obligations which depend for their fulfillment upon the will and conscience of those upon whom they rest. The ideas of right and remedy are inseparable. It is to be understood that the impairment of, or encroachment upon, the obligation must be material. If it be not material, it will be regarded as of no account. Edwards v. Kearzey, 96 U. S., 595. 1043. A contract, within the meaning of the constitution, is an agreement in which a party undertakes to do or not to do a particular thing. The law binds him to perform his undertaking, and this is the obligation of his contract. Where a party has given a note by which he agrees to pay a sum of money on a. certain day, the contract binds him to pay on that day, and this is its obligation. Any law which releases a part of_ the obligation must, in the literal sense of the word, impair it. Much more must a law impair it which makes it totally invalid and entirely discharges it. The words of the constitution admit of no variety of construction, and must be held to apply to an engagement between man and man for the payment...show more

Product details

  • Paperback | 398 pages
  • 189 x 246 x 21mm | 708g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236814444
  • 9781236814449