House Building & amp; Loan Association v. Blaisdell , 290 U.S. 398 (1934), is a United States Supreme Court ruling stating that the suspension of a Minnesota lender's reprieve does not violate the Constitution of the United States. Blaisdell was decided during the Great Depression and has been criticized by modern conservative and libertarian commentators. Video Home Building & Loan Ass'n v. Blaisdell
Background and decision
In 1933, in response to a large number of home foreclosures, Minnesota, like many other states at the time, extended the time available for mortgages to redeem their mortgages from foreclosures. The extension has the effect of enlarging the mortgage property as opposed to the terms of the contract.
The Supreme Court upheld the law, arguing that the emergency conditions created by the Great Depression "can justify the implementation of the country's continuous and dominant protection force despite disruptions to the contract." Blaisdell is the first time the court has extended an emergency exemption for pure economic emergency.
While the assessment of Blaisdell itself may have been held to apply only in limited economic emergencies, by the late 1930s the emergency exemption doctrine had developed dramatically.
Maps Home Building & Loan Ass'n v. Blaisdell
Criticism
Chicago economic schoolchildren have characterized Blaisdell among the Court's precedents that have reduced the constitutional protection of individual property rights. Richard Epstein (Laurence A. Tisch Professor of Law at New York University Law School and Adjunct Scholar on the critics of the libertarian American librarian thinker Cato) has become the most vocal:
Blaisdell trumps false liberation of constitutional texts that have paved the way for major government interventions that undermine the security of private transactions. Today the exception of police power has come to issue the contents of the contract clause.
See also
- List of US Supreme Court cases, volume 290
- Gold Clause Cases (1935)
References
Further reading
- Bieneman, Charles A. (1992). "Interpretation of Constitutional Laws and Cases: Building Houses & Loan Associations V. Blaisdell ". Michigan Legal Review . Michigan Law Review, Vol. 90, No. 8. 90 (8): 2534-2564. doi: 10.2307/1289578. JSTORÃ, 1289578.
- Levy, Robert A.; Mellor, William H. (2008). "Finishing a Personal Contract". The Dirty Dozen: How The Twelve Cases of the Supreme Radical Rule Expanded and the Horrible Freedom . New York: Sentinel. pp.Ã, 50-66. ISBN 978-1-59523-050-8. Ã,
- Fliter, John A. and Derek S. Hoff (2012). Fighting Foreclosure: The Blaisdell Case, the Contract Clause, and the Great Depression . Lawrence: University Press of Kansas.
External links
- Working related to Home Building & amp; Loan Ass'n v. Blaisdell on Wikisource
- Captions Building & amp; Loan Association v. Blaisdell , 290 US 398 (1934) is available from: Ã, CourtListener Ã, Findlaw < span> Google Scholar Justia
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