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.

This file is automatically generated by a robot program, so reader's discretion is required.