JUDICIARY: Moratorium Upheld

Few months ago in Minneapolis the Home Building & Loan Association foreclosed a mortgage on the home of John & Rosala Blaisdell. The Blaisdells went to court, asked for a two-year moratorium in accordance with a new law passed by the Minnesota Legislature. The case reached the U. S. Supreme Court where it was regarded as a test of the legality of all governmental emergency powers. Last week the Supreme Court upheld Minnesota, 5-to-4. Prime conclusion: an economic emergency, like fire, flood or earthquake, gives a state power to set aside contracts.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!