PSCI 3322 Lecture Notes - Lecture 9: Schecter Guitar Research, Commerce Clause, Contract Clause
Document Summary
No state shall pass any law impairing the obligation of contracts taken made. The georgia state legislature sold 35m acres of land for ,000. Everyone voted out of of ce once the news broke of the corruption. New legislature tried to pass legislature to cancel the transaction. Lots of people had already bought land from the original speculators. If the government cancelled the sale, these people would have their new lands. The repeal of the law can"t be done because its voiding the contract the state. One of the rst laws fdr passed to try and deal with the great depression. Tries to set up a minimum wage law for workers and minimum prices for business. The problem with depression is declining prices, a min price could prevent the sliding prices issue. Workers wanted a basic wage to try and live on.