Law Commons^™

The Establishment Of Foreign Bank Agencies And Branches In New York, Clifford D. Harmon

Vanderbilt Journal of Transnational Law

In recent years foreign banking associations have played an increasingly important role in the United States money market. While foreign banks have been operating in the United States since the 1870's, no substantial foreign banking existed in this country until the early 1970's. Since that time, however, there has been rapid expansion, and by 1978 there were 210 foreign bank facilities controlling $66 billion in assets in the United States. Most of this activity is confined to New York, Illinois, and California.

New York alone accounts for three quarters of all foreign bank assets in this country. Although this concentration …

Duty Of Directors With Respect To Potential Violations Of U.S. Law By Foreign Subsidiaries, Stephanie M. Phillips

Vanderbilt Journal of Transnational Law

This article considers whether the directors of a parent corporation breach their fiduciary duty to the shareholders and the corporation when they fail to obtain information concerning the business affairs and activities of a foreign subsidiary or to investigate fully the activities of a subsidiary, when those directors have information that the subsidiary may be violating United States law. These issues were originally raised in connection with alleged violations of the Rhodesian Sanctions Regulations and United States restrictions concerning sales to South Africa and Namibia by the wholly owned foreign subsidiaries of United States corporations. In response to allegations that …

Commercial Hardship And The Discharge Of Contractual Obligations Under American And British Law, John J. Gorman

Vanderbilt Journal of Transnational Law

There are several doctrines under which contractual obligations have been judicially discharged. This Note will examine the United States doctrine of commercial impracticability or commercial impossibility and the English doctrine of frustration of contract or frustration of the commercial objective. The focus of this Note therefore is on those situations in which discharge from contractual obligations is sought because of supervening economic hardship. Part II provides a brief historical account of the development of the English common law doctrine of impossibility. Part III traces the development of the United States concept of commercial impossibility and commercial impracticability from the early …

The Troublesome Workings Of The Judgments Convention Of The European Economic Community, Errol P. Mendes

Vanderbilt Journal of Transnational Law

The problems involved in the jurisdiction by consent provisions in article seventeen and the special rules for insurance claims in articles seven through fifteen have to some extent been dealt with by the provisions of the Judgments Accession Convention as have the problems arising under the hire purchase and credit sale transactions. Nevertheless, a comprehensive definition of the term "consumer sale" is needed from the European Court.

There can be little doubt that both lawyers and litigants who are affected by the Convention, would prefer to operate under the conflict of laws rules of their own nations which, although complex, …

A Comparison Of The Foreign Corrupt Practices Act And The Draft International Agreement On Illicit Payments, Margaret H. Young

Vanderbilt Journal of Transnational Law

Congress advocates the position that foreign bribery in a commercial context contributes to foreign relations problems, a perception of corporate immorality, and erosion of the free market system. By enacting the Foreign Corrupt Practices Act of 1977 (FCPA), the United States initiated a unilateral attack on the problem of commercial bribery abroad. Commentators frequently criticize the FCPA's unilateral approach, noting that it places United States companies at a competitive disadvantage overseas.

It is generally recognized that multilateral support is necessary before significant progress can be made in halting the prevalent practice of payments to foreign officials for business advantages. In …

Book Reviews, Robert Belton (Reviewer), Dr. Nasrollah S. Fatemi (Reviewer), Ann L. Hollick (Reviewer)

Vanderbilt Journal of Transnational Law

Book Reviews ================

Equal Employment Policy for Women: Strategies for Implementation in the United States, Canada, and Western Europe

Ronnie Steinberg Ratner, ed.

Philadelphia, Pennsylvania: Temple University Press. Pp. xxii, 520

Reviewed by Robert Belton

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The Host State of Transnational Corporations

Juha Kuusi

England: Saxon House. 1978. Pp. 117. $25.25

Reviewed by Dr. Nasrollah S. Fatemi

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The Enclosure of Ocean Resources: Economics and the Law of the Sea

Ross D. Eckert

Stanford: Hoover Institution. 1979.Pp. xvi, 390. $16.95

Reviewed by Ann L. Hollick

Books Received, C. A. P.

Vanderbilt Journal of Transnational Law

Books Received ================

Documents on Prisoners of War Edited by Howard S. Levie Newport, Rhode Island: Naval War College Press, 1979. Pp. 841.

Chinese Family Law and Social Change in Historical and Comparative Perspective Edited by David C. Buxbaum Seattle, Washington: University of Washington Press, 1978. Pp. 553. Bibliography and Chinese-English Glossary

The Definition of Law By Herman Kantorowicz Edited by A. H. Campbell New York: Octagon Books, 1980. Pp. 89. $13.50

The Legal Regime of Islands in International Law By Derek W. Bowett Dobbs Ferry, New York: Oceana Publications, Inc.,1978. Pp. 337. Diagrams and Maps.

International Norms and National …