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State Defaults In The United States
State defaults in the United States are instances of U.S. state, states within the United States Sovereign default, defaulting on their debt. The last instance of such a default took place during the Great Depression in the United States, Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy in the United States, Bankruptcy Code. Certain politicians and scholars have argued that the law should be amended to allow states to file for bankruptcy. Law and policy surrounding state bankruptcy Current law U.S. bankruptcy law, an area governed by federal law, does not allow and has not historically allowed a state to file for bankruptcy under the Bankruptcy in the United States, Bankruptcy Code. Since 1937, Chapter 9, Title 11, United States Code, Chapter 9 of the Bankruptcy C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Civil War
The American Civil War (April 12, 1861May 26, 1865; also known by Names of the American Civil War, other names) was a civil war in the United States between the Union (American Civil War), Union ("the North") and the Confederate States of America, Confederacy ("the South"), which was formed in 1861 by U.S. state, states that had Secession in the United States, seceded from the Union. The Origins of the American Civil War, central conflict leading to war was a dispute over whether Slavery in the United States, slavery should be permitted to expand into the western territories, leading to more slave states, or be prohibited from doing so, which many believed would place slavery on a course of ultimate extinction. Timeline of events leading to the American Civil War, Decades of controversy over slavery came to a head when Abraham Lincoln, who opposed slavery's expansion, won the 1860 presidential election. Seven Southern slave states responded to Lincoln's victory by seceding f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Law
Federal law is the body of law created by the federal government of a country. A federal government is formed when a country has a central government as well as regional governments, such as subnational states or provinces, each with constitutionally entrenched powers. As a result, two or more levels of governments with constitutional powers exist within an established geographic territory. The body of law of the common central government is the federal law. Examples of federal governments include those of Australia, Brazil, Canada, Germany, Malaysia, Pakistan, India, Russia, the former Soviet Union and the United States. Australia Brazil Canada Germany India Malaysia Pakistan Russia United States The United States Constitution established through the supremacy clause that the United States Constitution and federal law take precedence over state law. These powers include the authority to govern international affairs, interstate commerce, the currency and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Immunity In The United States
In United States law, the federal government as well as state and tribal governments generally enjoy sovereign immunity, also known as governmental immunity, from lawsuits. Local governments in most jurisdictions enjoy immunity from some forms of suit, particularly in tort. The Foreign Sovereign Immunities Act provides foreign governments, including state-owned companies, with a related form of immunity—state immunity—that shields them from lawsuits except in relation to certain actions relating to commercial activity in the United States. The principle of sovereign immunity in US law was inherited from the English common law legal maxim , meaning "the king can do no wrong." In some situations, sovereign immunity may be waived by law. Sovereign immunity falls into two categories: *Absolute immunity: When absolute immunity applies, a government actor may not be sued for the allegedly wrongful act, even if that person acted maliciously or in bad faith; and *Qualified immun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junius Marion Futrell
Junius Marion Futrell (August 14, 1870 – June 20, 1955) was an American attorney who served as the 30th governor of Arkansas from 1933 to 1937, and the acting governor for a short period in 1913. He also served in the Arkansas House of Representatives and Arkansas Senate including as the senate president. Early life Futrell was born in Jones Ridge in Greene County in northeastern Arkansas to parents Jepthra and Arminia Levonica Eubanks Futrell. The second of three children, he attended the Arkansas Industrial University, now the University of Arkansas School of Law, from 1892 to 1893. After his sophomore year, he taught school in several Arkansas counties until 1896, marrying Tera A. Smith on September 27, 1893. Futrell also farmed and worked in the timber industry before entering politics. Career Futrell was elected to the Arkansas House of Representatives and served from 1896 to 1904. He was elected Circuit Court Clerk from 1906 to 1910. Futrell was elected ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Mississippi Flood Of 1927
The Great Mississippi Flood of 1927 was the most destructive river flood in the history of the United States, with inundated in depths of up to over the course of several months in early 1927. The period cost of the damage has been estimated to be between $246 million and $1 billion, which ranges from $–$ billion in dollars. About 500 people died and over 630,000 people were directly affected; 94% of those affected lived in Arkansas, Mississippi, and Louisiana, especially in the Mississippi Delta region. 127 people died in Arkansas, making it one of the deadliest disasters ever recorded in the state. More than 200,000 African Americans were displaced from their homes along the Lower Mississippi River and had to live for lengthy periods in relief camps. As a result of this disruption, many joined the Great Migration from the South to the industrial cities of the North and the Midwest; the migrants preferred to move, rather than return to rural agricultural labor. To prev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security Interest
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the '' collateral'') which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. One of the most common examples of a security interest is a mortgage: a person is loaned money from a bank to buy a house, and they grant a mortgage over the house so that if they default in repaying the loan, the bank can sell the house and apply the proceeds to the outstanding loan. Although most security interests are created by agreement between the parties, it is also possible for a security interest to arise by operation of law. For example, in many jurisdictions a mechanic who repairs a car benefits from a lien over the car for the cost of repairs. This lien arises by operation of law in the absence of any agreement between the parties. Most security interests are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toll Road
A toll road, also known as a turnpike or tollway, is a public or private road for which a fee (or ''Toll (fee), toll'') is assessed for passage. It is a form of road pricing typically implemented to help recoup the costs of road construction and Road maintenance, maintenance. Toll roads have existed in some form since Classical antiquity, antiquity, with tolls levied on passing travelers on foot, wagon, or horseback; a practice that continued with the automobile, and many modern tollways charge fees for motor vehicles exclusively. The amount of the toll usually varies by vehicle type, weight, or number of axles, with freight trucks often charged higher rates than cars. Tolls are often collected at toll plazas, toll booths, toll houses, toll stations, toll bars, toll barriers, or toll gates. Some toll collection points are automatic, and the user deposits money in a machine which opens the gate once the correct toll has been paid. To cut costs and minimise time delay, many tolls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fuel Tax
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries, the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user fee. In other countries, the fuel tax is a source of general revenue. Sometimes, a fuel tax is used as an ecotax, to promote ecological sustainability. Fuel taxes are often considered by government agencies such as the Internal Revenue Service as regressive taxes. Fuels used to power agricultural vehicles, as well as home heating oil which is similar to diesel, are taxed at a different, usually lower rate. These fuels may be dyed to prevent their use for transportation. Aviation fuel is typically charged at a different rate to fuel for ground-based vehicles. Jet fuel and avgas can attract different rates. In many jurisdictions such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depression Of 1920–21
Depression may refer to: Mental health * Depression (mood), a state of low mood and aversion to activity * Mood disorders characterized by depression are commonly referred to as simply ''depression'', including: ** Major depressive disorder, also known as ''clinical depression'' ** Bipolar disorder, also known as ''manic depression'' ** Dysthymia, also known as ''persistent depressive disorder'' Economics * Economic depression, a sustained, long-term downturn in economic activity in one or more economies ** Great Depression, a severe economic depression during the 1930s, commonly referred to as simply ''the Depression'' ** Long Depression, an economic depression during 1873–96, known at the time as the ''Great Depression'' Biology * Depression (kinesiology), an anatomical term of motion, refers to downward movement, the opposite of elevation * Depression (physiology), a reduction in a biological variable or the function of an organ * Central nervous system depression, physio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
