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Constitutional Law Keyed to Shanor
Home Building v. Loan Association v. Blaisdell
Citation:
290 U.S. 398 (1934)Facts
Appellant contests the validity of the Minnesota Mortgage Moratorium Law, as being repugnant to the contract clause. The Act provides that, during the emergency declared to exist, relief may be had through authorized judicial proceedings with respect to foreclosures of mortgages, and execution sales, of real estate; that sales may be postponed and periods of redemption may be extended. The act is to remain in effect only during the continuance of the emergency and in no event beyond 1935. The appellees stated that they owned a lot in Minneapolis which they had mortgaged to appellant; that the mortgage contained a valid power of sale by advertisement, and that by reason of their default the mortgage had been foreclosed and sold to appellant in 1932.
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