This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
A change in statute providing for an appraisement if none was required before, the property not to be sold for less than a certain per cent of the appraised value,1 impairs the obligation of prior contracts. On the other hand, a statute which takes away a former right of appraisement is valid.2
 
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