What is the scope of the contracts clause of the US Constitution?
The Contracts Clause of the United States Constitution is found within the Fifth Amendment and guarantees the “right of the citizens to enter into contracts.” This clause helps to prevent the government, at any level, from passing laws that unjustly interfere with the formation of contracts. This protection applies to all contracts, regardless of their form or purpose. In the case of New Mexico, state lawmakers are bound by the Contracts Clause of the US Constitution. This means that the state may not pass any laws which significantly impair the rights of citizens to create legally binding contracts. For example, if the state were to pass a law eliminating the ability of potential business partners to create enforceable contracts, this would be in violation of the Contracts Clause and thus unconstitutional. Under the Contracts Clause, the state must also give citizens the ability to sue for breach of contract. This means that if a contract is formed and one party does not fulfill their part of the agreement, the other party can take them to court and seek damages for their actions. Ultimately, the Contracts Clause of the US Constitution helps to ensure that citizens are fully able to enjoy the benefits of contracts without unfair interference from the state. This prevents the state from making decisions which could unfairly harm citizens and gives individuals the freedom to form enforceable agreements with each other.
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