Ch22-SG - Chapter 22 Transactions , conducted,...

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Chapter 22: The Regulation of International  Transactions W HAT   THIS  C HAPTER  I S  A BOUT This chapter outlines some of the principles of international law, some of the ways in which international business is  conducted, and some of the ways in which that business is regulated. C HAPTER  O UTLINE I. INTERNATIONAL PRINCIPLES AND DOCTRINES The following are based on courtesy and respect and are applied in the interest of maintaining harmony among nations. A. T HE  P RINCIPLE   OF  C OMITY One nation defers and gives effect to the laws and judicial decrees of another country, so long as those laws and  judicial decrees are consistent with the law and public policy of the accommodating nation. B. T HE  A CT   OF  S TATE  D OCTRINE A judicially created doctrine under which the judicial branch of one country will not examine the validity of public  acts committed by a recognized foreign government within its own territory. Often used in cases involving— 1. Expropriation This occurs when a government seizes a privately owned business or goods for a proper public purpose and  pays just compensation. 2. Confiscation This occurs when a government seizes private property for an illegal purpose or without just compensation. C. T HE  D OCTRINE   OF  S OVEREIGN  I MMUNITY Immunizes foreign nations from the jurisdiction of domestic courts. In the United States, the Foreign Sovereign  Immunities Act (FSIA) of 1976 exclusively governs the circumstances in which an action may be brought against a  foreign nation. 1. When Is a Foreign State Subject to U.S. Jurisdiction? When the state has waived its immunity expressly or impliedly, or when the action is based on commercial  activity in the United States by the foreign state [Section 1605].   2. What Entities Fall within the Category of Foreign State? A political subdivision and an instrumentality (an agency or entity acting for the state) [Section 1603]. 177
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178 UNIT 6: THE INTERNATIONAL ENVIRONMENT 3. What Is Commercial Activity? The FSIA leaves it to the courts to decide whether an activity is governmental or commercial. II. DOING BUSINESS INTERNATIONALLY
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CHAPTER 22: THE REGULATION OF INTERNATIONAL TRANSACTIONS 179 A. E XPORTING The simplest way to do business internationally is to export to foreign markets. Direct exporting: signing a sales  contract with a foreign buyer. Indirect exporting: selling directly to consumers through a foreign agent or foreign  distributor. B.
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Ch22-SG - Chapter 22 Transactions , conducted,...

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