Justice Jackson wrote the court opinion for this case in which New York, Chicago & St. Louis Railroad Co. protested the validity of a New York State statute, which imposed liability on constituent companies of any consolidated business group. The court affirmed the decision of the lower court and found that liability attached to New York, Chicago & St. Louis Railroad Co for bonds guaranteed by their constituent.
Justice Jackson wrote the court opinion for this case in which New York, Chicago & St. Louis Railroad Co. protested the validity of a New York State statute, which imposed liability on constituent companies of any consolidated business group. The court affirmed the decision of the lower court and found that liability attached to New York, Chicago & St. Louis Railroad Co for bonds guaranteed by their constituent.