Law Commons^™

Fraud In The International Transaction: Enjoining Payment Of Letters Of Credit In International Transactions, Stephen J. Leacock

Vanderbilt Journal of Transnational Law

The Sztejn principles present to issuing banks a perplexing dilemma in international letter of credit transactions. Issuing banks that have received notice of fraud in the underlying transaction may yet be presented with documents that apparently conform to the letter of credit requirements by a seller who is not a holder in due course. If the bank refuses payment and a court determines that the fraud was not sufficiently egregious, the bank will be liable for breach of contract between the bank and the seller. But if the bank relies on the doctrine of separation and pays the draft, and …

United States Investment In Ireland, Eugene P. Fanning

Vanderbilt Journal of Transnational Law

This Article will examine in general the structure of the Irish Government relating to foreign investment, and describe the role of the government agencies that provide incentives for foreign direct investments. The Article will focus on the negotiation process between those government agencies and foreign investors, and examine the typical investment contract entered into by United States investors. The Article will also describe some important aspects of the typical forms of direct investment in Ireland: manufacturing, service industry, and joint venture investments. This Article will examine the concept of tax-advantaged lending in Ireland, Ireland's foreign exchange control regulations, and its …

Special Project -- Legal Issues Arising From The Mexican Economic Crisis, Robert L. Morgan -- Special Projects Editor, J. Robert Paulson, Jr., Fred A. Frost, Terrence L. Dugan, Cynthia L. Wells, G. Wilson Horde, Iii, Judith B. Anderson

Vanderbilt Journal of Transnational Law

The economic crisis in Mexico, which profoundly altered the financial and political course of that nation, has also had a significant impact on persons and corporations having business ties to Mexico. Foreign investors and businesses now are required to follow new Mexican rules that often differ dramatically from those previously in effect. The impact of the crisis has not been confined to changes in Mexican law. A substantial number of issues have arisen that will have significant bearing on United States and international law.

The Special Project discusses the changes in the legal environment following the crisis, with its focus …

The Export-Import Bank Of The United States And South Africa: The Effects Of The Evans Amendment, Anthony N. Vance

Vanderbilt Journal of Transnational Law

The Evans Amendment is an example of legislation that had the opposite effect of that which was congressionally intended. The Amendment was designed as a compromise to keep the Eximbank in South Africa, but its effect has been the termination of Eximbank activity in that country.

The United States exporters that expected to be hurt by the termination of Bank activity have apparently been largely unaffected because of the availability of other financing sources, particularly within South Africa. As a result, foreign competitors with uninterrupted financing support from their own governments have failed to make significant inroads into the business …

Letters Of Credit In East-West Trade: Soviet Reception Of Capitalist Custom, George M. Armstrong, Jr.

Vanderbilt Journal of Transnational Law

This Article examines the Soviet system for financing the purchase and sale of goods by a Soviet enterprise from a Western merchant. This Article is organized chronologically, commencing with the initial contact between a Western merchant and an FTO, the merchant's liaison with Soviet industrial enterprises.

The Article examines the role of the FTO in mediating relations between Soviet enterprises and their Western contracting partners. It then examines the procedures employed by the Bank for Foreign Trade to establish the credit, to handle the documentary transaction, and to determine whether to honor the seller's demand for payment. The Article finally …

Book Review, I. I. Kavass

Vanderbilt Journal of Transnational Law

The legal aspects of international contracts for the sale of goods are intrinsically complex. First, the negotiation and performance of international contracts must frequently be conducted at a distance and with the assistance of many intermediaries. The rights and obligations of parties to an international sale are usually more manifold than those of a purely domestic sales transaction, and the effect and scope of these international rights and obligations must be determined by sophisticated mercantile rules which are not present in all legal systems. Second, because an international sales transaction extends beyond the boundaries of one country, it is invariably …