On February 27, 1830, American economist and free trade advocate Arthur Latham Perry was born.
The Twenty-second Amendment (Amendment XXII) of the United States Constitution, which sets a term limit for election and overall time of service to the office of President of the United States, was ratified by the requisite 36 of the then-48 states on February 27, 1951.
Congress had passed the amendment on March 21, 1947.