Briefly discuss the Contract Clause of the U.S. Constitution
Article I, Section 10 of the Constitution provides: "No State shall . . . pass any . . . Law impairing the Obligation of Contracts . . . ." The Supreme Court has used the Contract Clause to restrict states from retroactively modifying public charters and private contracts. The Court has also ruled that no legislature can bargain away the public health or the public morals. The Contract Clause does not hinder the states from exercising eminent domain or their police powers. The Contract Clause does not apply to the federal government, but due process limits the federal government's power to impair contracts.
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The offer rate
a. is the price at which the bank is willing to sell a unit of foreign currency. b. is the price that the bank is willing to pay for a unit of foreign currency. c. is synonymous with the spread rate. d. is synonymous with the exchange rate.
Inventory Short and Over is used when the cash count does not agree with the inventory count
Indicate whether the statement is true or false
________ time begins with the promotional launch and ends when approximately 95 percent of the deal merchandise is in the hands of consumers
A) Lead B) Hold C) Setup D) Link E) Sell-in
) Newell Company has acquired land and paid $500 as a brokerage commission to acquire the land. However, the company's accountant has recorded the $500 as a revenue expenditure. What is the effect of this error?
A) Net income is understated by $500. B) Liabilities are overstated by $500. C) Revenue is overstated by $500. D) Assets are overstated by $500.