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Rice v. Board of Trade, 331 U.S. 247 (1947)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Rice v. Board of Trade, 331 U.S. 247 (1947)
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Rice v. Board of Trade of the City of Chicago No. 471 Argued February 14, 1947 Decided May 5, 1947 * 331 U.S. 247
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SEVENTH CIRCUIT
Syllabus
1. By the Commodity Exchange Act, the United States has not so occupied and preempted the field of regulation of boards of trade designated "contract markets" as to deprive the states of authority to regulate trading in futures, except to the extent that the state regulations may conflict with the federal regulations. Pp. 250-255.
2. Until a state has adopted applicable rules on the subject, it cannot be known whether the state regulations will conflict with the federal regulations, and any claim of supersedure is premature. Pp. 255-256
156 F.2d 33, reversed.
A district court dismissed complaints seeking to enjoin proceedings before the Illinois Commerce Commission in which the Chicago Board of Trade had been joined as a defendant. The Circuit Court of Appeals reversed. 156 F.2d 33. This Court granted certiorari. 329 U.S. 701. Reversed, p. 256.
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Chicago:
U.S. Supreme Court, "Syllabus," Rice v. Board of Trade, 331 U.S. 247 (1947) in 331 U.S. 247 331 U.S. 248. Original Sources, accessed August 30, 2025, http://www.originalsources.com/Document.aspx?DocID=I4RTA74BBATUXXW.
MLA:
U.S. Supreme Court. "Syllabus." Rice v. Board of Trade, 331 U.S. 247 (1947), in 331 U.S. 247, page 331 U.S. 248. Original Sources. 30 Aug. 2025. http://www.originalsources.com/Document.aspx?DocID=I4RTA74BBATUXXW.
Harvard:
U.S. Supreme Court, 'Syllabus' in Rice v. Board of Trade, 331 U.S. 247 (1947). cited in 1947, 331 U.S. 247, pp.331 U.S. 248. Original Sources, retrieved 30 August 2025, from http://www.originalsources.com/Document.aspx?DocID=I4RTA74BBATUXXW.
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