[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Erie



No, there is the Truth in Lending Act, but I don't believe that Congress
can legislate substantive commercial law statutes.  This would seem to
matter because if Congress cannot legislate, then states are free to
develop their own laws (either statutory or common).  In addition,
federal courts could not develop substantive laws either because the
courts were created by Congress and only have the power that Congress
provides, and Congress cannot provide a power that they do not possess.