Steep Hill, Inc. v. Jmîchaeĺe Keller

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that damages are always the default remedy for breach of contract unless the parties agree otherwise
• holding that change in law governing capital requirements for thrift industry was breach of government’s contractual promise to treat capital requirements in a certain manner
• holding that “ordinary principles of contract construction and breach ... [that apply] to any contract action between private parties” govern a contract with the Government
• holding that the government’s interpretation of the Glendale documents as reflecting then-current regulatory policy rather than contractual undertakings was “fundamentally implausible”
• recognizing that “the principal inducement for these supervisory mergers was an understanding that the acquisitions would be subject to a particular accounting treatment that would help the acquiring institutions meet their reserve capital requirements imposed by federal regulations”
• stating that the reserved powers doctrine was developed to prevent public contracts from becoming a “threat to the sovereign responsibilities of state governments”

Source: CourtListener parenthetical corpus (CC0).