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Cities Service Co. v. McGrath, 342 U.S. 330 (1952)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Cities Service Co. v. McGrath, 342 U.S. 330 (1952)
Cities Service Co. v. McGrath No. 305 Argued January 2-3, 1952 Decided January 28, 1952 342 U.S. 330
CERTIORARI TO THE UNITED STATES COURT OF APPEALS
FOR THE SECOND CIRCUIT
Syllabus
1. The Trading with the Enemy Act authorizes the vesting of obligations evidenced by negotiable debentures payable to bearer, the obligors of which are within the United States, even though the debentures themselves are not in the possession of the Custodian and are outside the United States. Pp. 331-334.
(a) Such obligations are "within the United States" within the meaning of the Executive Order authorizing, pursuant to the Act, the vesting of property "within the United States." P. 332, n. 6, pp. 333-334.
2. It is within the constitutional power of Congress to authorize the Custodian to seize an interest represented by a bond or debenture without seizing the instrument itself where the obligor of the bond or debenture is within the United States. P. 334.
3. American obligors who are compelled, under the Trading with the Enemy Act, to make payment to the Custodian on negotiable debentures, payable to bearer, located outside the United States, will be entitled under the Fifth Amendment to "just compensation" to the extent of any double liability to which they may be subjected in the event a foreign court holds them liable to a holder in due course, and such cause of action will accrue when, as, and if a foreign court compels them to make payment to a holder in due course. Pp. 334-336.
189 F.2d 744 affirmed.
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Chicago: U.S. Supreme Court, "Syllabus," Cities Service Co. v. McGrath, 342 U.S. 330 (1952) in 342 U.S. 330 342 U.S. 331. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=BTWBK69QP1PA9YT.
MLA: U.S. Supreme Court. "Syllabus." Cities Service Co. v. McGrath, 342 U.S. 330 (1952), in 342 U.S. 330, page 342 U.S. 331. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=BTWBK69QP1PA9YT.
Harvard: U.S. Supreme Court, 'Syllabus' in Cities Service Co. v. McGrath, 342 U.S. 330 (1952). cited in 1952, 342 U.S. 330, pp.342 U.S. 331. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=BTWBK69QP1PA9YT.
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