OBLIGATION OF CONTRACTS. By this expression, which is used in the consti- tution of the United States, is meant a legal and not merely a moral duty. 4 Wheat. 107.
'arise' under it; or they might involve a violation of the prohibitions in Article I, section 10 against a state's 'mak[ing] any Thing but gold and silver Coin a Tender in Payment of Debts' or passing 'Law[s] impairing the Obligation of Contracts, ...
impairing the obligation of contracts." This does not affect the power of Congress to pass such a law. Contracts between private individuals are of course within the provision.
Any one of the states may pass a bankrupt law, but no state bankrupt or insolvent law can be permitted to impair the obligation of contracts; ...
 See also: Right, United states, Debtor, Act, Person
  
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