tinction consists rather in the form of the remedy, than in the substantial right. And as it is evident that the laws in question, invade the right secured by this covenant, there can be no sound reason for a different conclusion where similar rights are incor-. porated by law into the contract, and form a part of it at the time it is made. Mortgages made since the passage of these laws must undoubtedly be governed by them. For every State has the power to prescribe the legal and equitable obligations of a contract to be made and executed within its jurisdiction. It may exempt any property it thinks proper from sale for the payment of a debt, and may impose such conditions and restrictions upon the creditor as its judgment and policy may dictate. And all future contracts would be subject to such provisions; and they would be obligatory upon the par, ties in the Courts of the United States as well as in those of the State. We speak of course of contracts made and to be executed in the State. It is a case of that description that is now before us; and we do not think it proper to go beyond it. Upon the questions presented by the Circuit Court we therefore answer 1st. That the decree should direct the premises to be sold at public auction to the highest bidder without regard to the law of February 19, 1841, which gives the right of redemption to the mortgagor for twelve months, and to the judgment creditor for fifteen. 2d. That the decree should direct the sale of the mortgaged premises without being first valued by three householders, and without requiring two thirds of the amount of the said valuation to be bid according to the. law of February 27, 1841. The decision of these two questions disposes of the third-and we shall direct these answers to be certitied to the Circuit Court. ACTS OF THE LEGISLATURE OF THE STATE OF MICHIGAN; PASSED AT THE ANNUAL SESSION OF 1837. BY AUTHORITY. STANFORD LIBRADY DETROIT: JOHN S. BAGG, STATE PRINTER. 1837. LAWS OF MICHIGAN. [No. II.] AN ACT to regulate the election for the county of Shi awassee. Appointment Sec. 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the qualified electors of the county of Shiawassee, be, and they are hereby, authorized (at the special election to be holden for the purpose of electing a representative to the state legislature, from the counties of Saganaw, Genesee and Shiawassee) to elect viva voce five inspectors of Inspectors for said election; and that said inspectors appoint their modera- tor. tor, and that said moderator administer the oath required by law to said inspectors, and that one of the inspectors administer said oath to said moderator. and Modera Election, Sec. 2. The said election shall be holden at the house of Al- where holdfred S. Williams, in said county, and the returns made in the manner prescribed by the existing laws of this state. Approved January 24, 1837. [No. III.] AN ACT to authorize Morris S. Hutchins and others to convey certain lands. Joseph B. thorized to Sec. 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That it shall be lawful for Joseph B. Hutchins, of St. Joseph county, who is the father of Morris Hutchins auSamuel Hutchins, a minor under the age of twenty-one years, by convey certhe direction and subject to the approbation of the judge of prc- to Aurora bate of said county, signified by an order made upon the hearing of all parties concerned, on the petition of said minor, or his fa tain lands Gillet. |