legislative contract regarding taxation
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 201 U.S. 543 - Powers v. Detroit, Grand Haven & Milwaukee Railway Co. · 1906Most cited · 48 citing opinions
the legislature of a state may, in the absence of special restrictions in its Constitution, make a valid contract with a corporation in respect to taxation, and that such contract can be enforced against the state at the instance of the corporation. ... [W]e accept the ruling that the statutes are valid and applicable enactments. ... the supreme court of the state having sustained the validity of a statute from which a contract is claimed, this court follows that decision, and starts with the question, What contract is shown by statute?