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Hepburn v. Griswold
United States Supreme Court
75 U.S. 603 (1870)
The Legal Tender Act of 1862 allowed for the production of paper notes, or greenbacks, to help finance the Civil War. However, this new form of currency was depreciative in value as compared to gold. When Mrs. Hepburn (defendant) attempted to pay an existing debt to Mr. Griswold (plaintiff) with paper notes rather than precious metals, Griswold refused to accept them. He sued her in a court of equity and lost, but then obtained a reversal on appeal. Hepburn’s appeal brought the case to the Supreme Court.
Rule of Law
Holding and Reasoning (Chase, C.J.)
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