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[JUDICIAL ERROR - DUE PROCESS] Alice Corp. v. CLS Bank (Part III-A) (573 U.S. ___, 2014 June 19)

Decision Parameters

  • Case: [JUDICIAL ERROR - DUE PROCESS] Alice Corp. v. CLS Bank (Part III-A)
  • Type:
  • Date: 2014 June 19
  • Code: 573 U.S. ___
  • Court: Supreme Court
  • Vote: 9-0
  • URL: casetext.com/case/alice-corp-v-cls-bank-intl
  • Patent: 5970479, 6912510, 7149720, 7725375

Decisions It Cites

    Le Roy v. Tatham [55 U.S. 14, 1852]
    O'Reilly v. Morse [56 U.S. 15, 1853]
    Gottschalk v. Benson [409 U.S. 63, 1972]
    Parker v. Flook [437 U.S. 584, 1978]
    Diamond v. Diehr [450 U.S. 175, 1981]

Decisions That Cite It

    Bilski v. Kappos [561 U.S. 593, 2010]
    Mayo Collaborative v. Prometheus Laboratories [560 U.S. ___, 2012]
    Assoc. Molecular Pathology v. Myriad Genetics [569 U.S. ___, 2013]

Rules & Quotes

[JUDICIAL ERROR - DUE PROCESS] {1} On their face, the claims before us are drawn to the concept of intermediated settlement, i.e., the use of a third party to mitigate settlement risk. Like the risk hedging in Bilski, the concept of intermediated settlement is "'a fundamental economic practice long prevalent in our system of commerce.'" Ibid.; see, e.g., Emery, Speculation on the Stock and Produce Exchanges of the United States, in 7 Studies in History, Economics and Public Law 283, 346-356 (1896) (discussing the use of a "clearing-house" as an intermediary to reduce settlement risk). The use of a third-party intermediary (or "clearing house") is also a building block of the modern economy. See, e.g., Yadav, The Problematic Case of Clearinghouses in Complex Markets, 101 Geo. L. J. 387, 406-412 (2013); J. Hull, Risk Management and Financial Institutions 103-104 (3d ed. 2012). Thus, intermediated settlement, like hedging, is an "abstract idea" beyond the scope of Section 101.

[JUDICIAL ERROR - DUR PROCESS] It is a violation of the Due Process clause of the Constitution to deprive someone of their property rights with a law or court decision that rests on an undefined word (here 'abstract') that is undefined and/or vague.

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