Detailed Instructions: In this task, you will be shown a prompt from a judicial decision and multiple holding statements derived from citations following text in a legal decision. Holdings represent the governing legal rule when the law is applied to a particular set of facts. There are five answer choices for each citing text. The correct answer is the holding statement that corresponds to the citing text. The four incorrect answers are other holding statements. You should find the correct option. There is a <HOLDING> token in the position of the citing text prompt where the holding statement was extracted.
Problem:511 U.S. 244, 114 S.Ct. 1483, 128 L.Ed.2d 229 (1994). In Landgraf, the Court noted that a statute only truly operates retroactively if applying it would "impair rights a party possessed when he acted, increase a party's liability for past conduct, or impose new duties with respect to transactions already completed." Id. 114 S.Ct. at 1505; see also RTC v. Ford Motor Credit Corp., 30 F.3d 1384, 1387-88 (11th Cir.1994)(analyzing retroactivity of lease repudiation damage limitation provision of FIRREA). Thus, like other courts that have analyzed similar FIRREA provisions, we must address prior banking law to determine whether application of the damage limitation provisions of 1821(e)(3) would have the retroactive effect defined in Landgraf. See, e.g., Ford Motor Credit, 30 F.3d at 1388 (<HOLDING>). We conclude that, in the Crafts' case, it
Holding statements: (A) holding that the act is not retroactive (B) holding that firreas damage limitations for repudiation of leases worked no substantive change in the law and thus their application was not retroactive (C) holding retroactive application (D) holding no retroactive application (E) recognizing that the application of a retroactive amendment is discretionary
Solution:
(B)