View Full Version : Savings clauses

06-23-13, 11:54 AM
Check out who else practices savings ....

Federal Reserve Act (http://www.federalreserve.gov/aboutthefed/section30.htm)

Section 30. Saving clause

If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.

[Omitted from U.S. Code. Part of original Federal Reserve Act; not amended.]

If this is the case, it would also seem to be that Amendments 9 and 10 of the Bill of Rights are also savings clauses

Bill of Rights (http://www.archives.gov/exhibits/charters/bill_of_rights_transcript.html)

Amendment IX

The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.

Amendment X

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

06-23-13, 12:06 PM
It seems savings clauses either reserves a right, claims an exemption, or limits a liability.

06-23-13, 12:10 PM
Severability (http://financial-dictionary.thefreedictionary.com/Savings+Clause)

A clause in a contract stating that if one clause in the contract is ruled illegal or unenforceable, the remainder of the contract remains in effect. Severability exists to protect the counterparties to the contract from the possibility that the whole contract will be ruled invalid. This is especially important if one or both parties must spend money in the execution of the contract. A contract without a severability clause could be declared entirely invalid if a single section is declared invalid. It is also called a savings clause.