This case has been cited 1 times or more.
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2000-12-04 |
QUISUMBING, J. |
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| But, the foregoing principles do admit of certain exceptions. One involves police power. A law enacted in the exercise of police power to regulate or govern certain activities or transactions could be given retroactive effect and may reasonably impair vested rights or contracts. Police power legislation is applicable not only to future contracts, but equally to those already in existence.[10] Nonimpairment of contracts or vested rights clauses will have to yield to the superior and legitimate exercise by the State of police power to promote the health, morals, peace, education, good order, safety, and general welfare of the people.[11] Moreover, statutes in exercise of valid police power must be read into every contract.[12] Noteworthy, in Sangalang vs. Intermediate Appellate Court,[13] we already upheld MMC Ordinance No. 81-01 as a legitimate police power measure. | |||||