Court : US Supreme Court
Decided on : Jan-01-1827
..... the proper exercise of state sovereignty, prescribe regulations which must precede the obligation of the contract, and, consequently cannot impair that obligation. acts of this description, therefore, are most clearly not within the prohibition of the constitution. the acts against usury are of the same character. they declare the contract to be void in the beginning. they deny that the instrument ever became ..... preferences given in the marshaling of assets; sales on credit for a present debt; shutting of courts altogether against gaming debts and usurious contracts, and above all, acts of limitation. i hold it impossible to maintain the constitutionality of an act of limitation if the modification of the remedy against debtors, implied in the discharge of insolvents, is unconstitutional. i have seen no ..... the note pays interest for the days of grace. this would be illegal and usurious if the money was not lent for these additional days. the extent of the loan, therefore, is regulated by the act of the parties, and this part of the contract is founded on their act. since, by contract, the maker is not liable for his note until the days ..... contracts. in the effort to get rid of the universal vote of mankind in favor of limitation acts and laws against gaming, usury, marriage, brokerage, buying and selling of offices, and many of the same description, we have heard it argued that as to limitation acts, the creditor has nothing to complain of, because time is allowed him of which, if he .....Tag this Judgment!