contracts clause

contracts clause definition - legal

n

A provision in the United States Constitution that prohibits states from impairing private contractual obligations. This clause has been interpreted so that the states can impose regulations governing such obligations, provided the regulations are reasonable and necessary.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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