In Lockerty v. Phillips (1942), the United States Supreme Court upheld the constitutionality of a provision in the Emergency Price Control Act of 1942, which limited judicial review for individuals challenging price controls set by the federal government during World War II. The plaintiffs were fur dealers who argued that this limitation violated their Fifth Amendment rights to due process and equal protection under law, as well as their Seventh Amendment right to trial by jury. However, Justice Felix Frankfurter delivered an unanimous decision stating that Congress had broad authority to regulate wartime economy and could limit judicial review accordingly without violating constitutional rights. This case affirmed Congress's power to control economic activity during times of national emergency.

In the dissenting opinion for Lockerty v. Phillips, Justice Frank Murphy argued that the majority's decision to uphold a law limiting judicial review of price control orders was unconstitutional. He believed that this law violated the separation of powers by infringing on the judiciary's role in reviewing executive actions and interpreting laws. Furthermore, he expressed concern about potential abuses of power if such restrictions were allowed to stand, arguing that they could lead to unchecked governmental authority over individuals' lives and property without adequate legal recourse or protection. In his view, even during times of war or national emergency when certain liberties might be curtailed for public safety reasons, it is crucial to maintain checks and balances among different branches of government as safeguards against tyranny.