Fletcher v. Peck

Fletcher v. Peck grew out of the Georgia legislature's crookedly sale of land in the Yazoo River country in what is now Mississippi to private speculators. The next legislature, reacting to public outcry, canceled the transaction, but the Court ruled that the sale was a binding contract, which according to the Constitution cannot be invalidated, even if illegally secured. Today the ruling further protects property rights against popular pressures, and is one of the earliest cases of the Court asserting its right to invalidate state laws conflicting with the Constitution.