Wright v. Vinton Branch of Mountain Trust Bank of Roanoke 300 U.S. 440 (1937)
WRIGHT v. VINTON BRANCH OF MOUNTAIN TRUST BANK OF ROANOKE 300 U.S. 440 (1937)
Despite the decision in louisville joint stock land bank v. radford (1935), Congress had to act on behalf of farmers losing their farms through foreclosures. A revised frazier-lemke act fixed a three-year stay of proceedings with the proviso that a federal bankruptcy court might shorten that period if the economic emergency ended. The new act also provided that the mortgagee retained a lien on the property. But except for a few other minor changes the act remained the same, allowing the bankrupt mortgagor to retain possession of the property and to purchase it at its newly appraised value. Justice louis d. brandeis, for a unanimous Supreme Court, found that the new act was free of the objectionable features of the original and did not violate the Fifth Amendment's due process clause. President franklin d. roosevelt'scourt-packing plan may have influenced the Court to temper its views.
Leonard W. Levy