Full faith and credit

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Related to Full Faith and Credit Clause: Necessary and Proper Clause, Supremacy Clause

Full Faith and Credit

A situation in which a government agrees to repay a debt no matter what. For example, if a bond is backed by the full faith and credit of the United States, the U.S. government must find some way to repay the bond. U.S. Treasury securities, Ginnie Mae bonds, and some other debt securities are call full-faith-and-credit bonds because they have this backing. Municipalities may also attach full faith and credit to their bonds, but this means less than the credit of the United States.

Full faith and credit.

Federal and municipal governments can promise repayment of debt securities they issue because they can raise money through taxes, borrowing, and other sources of revenue. That power is described as full faith and credit.

References in periodicals archive ?
Consequently, in Cowen's view, if the High Court were correct in Merwin Pastoral that the full faith and credit clause prevented an Australian state court from using forum law to prevent the admission of the laws of another state on the ground of public policy, the same outcome should also be reached in the case of the second part of Phillips v Eyre inasmuch as it also gave undue preference to forum law.
In the 30-year period from 1957 (when Cowen last wrote on the subject) until 1987 only two major decisions were handed down on the impact of the full faith and credit clause on interstate choice of law: one progressive and one conservative.
balanced the exacting nature of the Full Faith and Credit Clause with
relaxed the requirements of the Full Faith and Credit Clause when it
Ake, (67) a Florida district court rejected the claim that "Congress may only regulate what effect a law may have, it may not dictate that the law has no effect at all" (68) by suggesting that "Congress' actions in adopting DOMA are exactly what the Framers envisioned when they created the Full Faith and Credit Clause.
Sack, Domestic Violence Across State Lines: The Full Faith and Credit Clause, Congressional Power, and Interstate Enforcement of Protection Orders, 98 NW.
The new, second sentence of the Full Faith and Credit Clause is a
A careful reading of the Full Faith and Credit Clause reveals that the Constitution empowers Congress, not the Supreme Court, to declare the effect of one state's laws on the laws of her sister states.
The language of the Full Faith and Credit Clause "is so sweeping as to make inevitable the existence of some exceptions to its literal command.
It concludes that section 2 of the Act should be found unconstitutional on the grounds that it exceeds Congress's power to legislate, by "general Laws," under the Full Faith and Credit Clause and that it unduly interferes with the status of the states as independent sovereigns.
First, the historical application of the full faith and credit clause must be assessed to determine its potential role in interstate recognition of same-sex marriages.
And an unexpected difficulty appeared: Taking the language of the Full Faith and Credit Clause literally would lead to "the absurd result that, wherever the conflict arises, the statute of each state must be enforced in the courts of the other, but cannot be in its own.