This Supreme Court case involved the Administrator of Stanley, Turner, as plaintiff in error and the President, Directors and Company of the Bank of North-America as defendants. The dispute arose from a promissory note issued by Turner to pay off a debt he owed to the bank. When payment was not made on time, interest began accruing at an accelerated rate which resulted in additional costs for Turner. He argued that this violated his rights under contract law because it was not stipulated in their agreement that such interest would be charged if late payments were made. The court ultimately ruled against him stating that while there may have been no explicit mention of accelerated rates being applied for late payments, they are implied when parties enter into contracts with each other and therefore did not violate any laws or agreements between them.

In the dissenting opinion of Turner, Administrator of Stanley v. The President, Directors and Company of the Bank of North-America, Justice Chase argued that a state court had no authority to issue an injunction against a federal bank. He reasoned that since Congress had created the bank with exclusive powers over its own affairs and operations, it was not subject to any interference from state courts or legislatures. Furthermore, he noted that if states were allowed to interfere in such matters then they would be able to undermine national laws and policies which could lead to chaos within our nation's government structure. In conclusion Justice Chase stated his belief that only Congress should have jurisdiction over this matter as it is their responsibility alone under Article I Section 8 Clause 18 (the Necessary & Proper clause)to create all necessary legislation for regulating commerce among nations and between states.