The Need for the Constitution

The government established by the Articles of Confederation was not strong enough to govern the new nation. For example, it lacked an executive branch and a system of national courts. It could not regulate trade between the states or tax the states or their citizens. It was little more than an assembly of the representatives of 13 independent states. In 1783, after the Revolutionary War, the nation entered a period of unstable commercial and political conditions. Alexander Hamilton and his supporters would have had little success in their campaign for a new constitution if conditions had been better. Some historians perhaps have painted the troubles of the new republic in much too gloomy colors. But little doubt remains that the situation became steadily worse after 1783. Each state acted almost like an independent country. Each ran its own affairs exactly as it saw fit, with little concern for the needs of the republic. The states circulated a dozen different currencies, most of which had little value. Neighboring states taxed each
other’s imports. Great Britain refused to reopen the channels of trade that the colonies had depended on for their economic well-being. The state legislatures refused to pay the debts they had assumed during the Revolutionary War. Many states passed laws that enabled debtors to escape paying their obligations. Worst of all, some people began to think once again of taking up arms in order to solve their problems. In western Massachusetts in 1786, hundreds of farmers under Captain Daniel Shays rebelled against the state government. State troops finally put down Shays’s Rebellion. George Washington and other leaders wondered whether the colonies had rebelled against Great Britain in vain. They felt it was time to end these troubles and bring peace and order by forming a new national government. This new government would have to be strong enough to gain obedience at home and respect abroad. Representatives from five states met in Annapolis, Maryland, in 1786. They proposed that the states appoint commissioners to meet in Philadelphia and consider revising the Articles of Confederation. Congress agreed to the proposal and suggested that each state select delegates to a constitutional convention.

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The Supreme Law of the Land

The Constitution consists of a preamble, seven articles, and 27 amendments. It sets up a federal system by dividing powers between the national and state governments. It also establishes a balanced national government by separating powers among three independent branches — the executive, the legislative, and the judicial. The executive branch, the President, enforces national laws; the legislative branch, the Congress, makes national laws; and the judicial branch, the Supreme Court and other federal courts, applies and interprets laws when deciding legal disputes in federal courts.
Federal powers listed in the Constitution include the right to collect taxes, declare war, and regulate interstate and foreign trade. In addition to these delegated, or expressed powers (those listed in the Constitution), the national government has implied powers (those reasonably implied by the delegated powers.) The implied powers enable the government to respond to the changing needs of the nation. For example, Congress had no specific delegated power to print paper money. But such a power is implied in the delegated powers of borrowing and coining money. In some cases, the national and state governments have concurred powers — that is, both levels of government may act. The national government laws are supreme in case of a conflict. Powers that the Constitution does not give to the national government or forbid to the states, reserved powers, belong to the people or to the states. State powers include the right to legislate on divorce, marriage, and public schools. Powers reserved for the people include the right to own property and to be tried by a jury. The Supreme Court has the final authority to interpret the Constitution. It can set aside any law — federal, state, or local — that a majority of the justices believes conflicts with any part of the Constitution.

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How to sell structured settlement

The structured settlement annuity is presented by the insurance company who insured the party dependable for the injury as a way to compensate the personal injury claim victim without paying a lump sum of cash up-front.

Sometimes a structured settlement allowance better for the victim at the time of their accident, but often the victim’s situation change and  need a lump sum today.

The recipient of a structured settlement annuity will receive these cyclic payments tax free from the insurance company.

Structured settlements benefit the personal injury suffered by insuring they collect a steady stream of future income, which is mostly important for minors or victims who have had life changing injuries and may be unable to earn income over their lifetime.

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What is Structured Settlements

A structured settlement is a a financial or insurance contract that a petitioner accept in the case of personal injury, rather than taking a piece sum payment. Settlements usually arise from some legal claim, and provide a person with a specific amount of capital for a fixed period of time. 

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What is Life settlement

Life settlement is the sale of an presented life insurance policy to a third party for additional than its cash submit value, but less than its net death advantage. There are a number of reasons that a policy owner may decide to sell his or her life insurance policy.

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What is acceptance for settlement

The stage in the processing of a payment at which it has passed
all risk management and other tests and can be settled under the
system’s rules and procedures.
Reference
Core
Principles

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