WRA study aid #3 - Study aid for assignment #3 Study aid...

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Study aid for assignment #3 Study aid for pages 111-115 Fletcher v. Peck (1810) set a precedent for the Court's inclination to protect property rights against the will of the majority of the people. The Court ruled broadly on the Constitutional passage that forbids states to enact any law "impairing the Obligation of Contracts"(Article 1, section 10, p489). By doing this, the Court limited the ability of the states to regulate their economies, keeping economic power in the hands of individuals. Summary of the case Around 1800, The legislature of the state of Georgia was bribed to sell, very cheaply, a large amount of land along the Yazoo river to a small group of east coast investment companies who planned to resell the land at great profit. When the scandal became public, the people of Georgia voted out the corrupt state legislature with a new one that immediately voided the sale of the land and offered to buy back the land. As soon as Georgia did this, the deeds held by the investors became suspect (unquiet), threatening the profits that they had foreseen because buyers would not by land whose ownership was in question. These investors challenged Georgia's right to void
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This note was uploaded on 10/17/2011 for the course WRA 115 taught by Professor Lackey during the Fall '08 term at Michigan State University.

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WRA study aid #3 - Study aid for assignment #3 Study aid...

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