Home Building & Loan Assoc. v. Blaisdell

PETITIONER: Home Building & Loan Assoc.
RESPONDENT: Blaisdell
LOCATION:

DOCKET NO.: 370
DECIDED BY: Hughes Court (1932-1937)
LOWER COURT:

ARGUED: Nov 08, 1933 / Nov 09, 1933
DECIDED: Jan 08, 1934

Facts of the case

In 1933, Minnesota enacted the Mortgage Moratorium Law in an effort to combat the economic emergency posed by the Great Depression. The law extended the time period in which borrowers could pay back their debts on property to lenders. The state argued that this was a legitimate use of its police powers since Minnesota faced massive economic difficulties.

Question

Did the Minnesota law violate both Article I, Section 10 of the Constitution which prevents a state from "impairing the Obligation of Contracts" and the due process and equal protection clauses of the Fourteenth Amendment?