Geldhof v. Penwood Associates, 119 N.H. 754 (1979)

We thus reaffirm the principle that when corporations or citizens lawfully contract to exchange rights and obligations, they may have confidence that those rights and obligations will not subsequently be disturbed by the legislature. Under the Federal Constitution, “[n]o state shall... pass any . .. law impairing the obligation of contracts ...” U.S. CONST, art. I, § 10, cl. 1. The Supreme Court has recently noted that “the Contract Clause remains part of the constitution. It is not a dead letter .’’Allied Structural Steel Co. v. Spannaus, 438 U.S. 234, 241 (1978); Kimball v. New Hampshire Bd. of Accountancy, 118 N.H. 567, 569, 391 A.2d 888, 890 (1978).