http://www.oyez.org/issues/judicial-power/miscellaneous/ U.S. Supreme Court Decisions, presented by The Oyez Project (www.oyez.org) en-us <p>Does the Emergency Low Income Housing Preservation Act of 1987, which restricted the right of property owners to prepay at any time mortgages under the Housing Act of 1949, constitute a present breach of contract?</p><p>No. In a unanimous opinion delivered by Justice Ruth Bader Ginsburg, the Court held that because ELIHPA's enactment qualified as a repudiation of the parties' bargain, not a present breach of the loan agreements, breach would occur, and the six-year limitations period would commence to run, when a borrower tenders prepayment and the Government then dishonors its obligation to accept the tender and release its control over use of the property securing the loan. The Court reasoned that the government's pledged performance was properly comprehended as an obligation to accept prepayment, not an obligation to allow borrowers to have the right to prepay. Therefore, the borrowers' repudiation claims were not time-barred, because the cause of action would not accrue until the government dishonors its obligation to accept the prepayment.</p> http://www.oyez.org/cases/2000-2009/2001/2001_01_455/ <p>No details yet.</p> http://www.oyez.org/cases/1980-1989/1987/1987_87_107/