Law Commons^™

The Extraterritorial Reach Of The Federal Securities Code: An Analysis Of Section 1905, John M. Liftin

Vanderbilt Law Review

Section 1905 of the proposed Federal Securities Code' sets forth the applicability of the Code to transnational securities transactions. The drafters could have stated in each provision of the Code whether and to what extent it was to apply extraterritorially. Instead, they placed in one section a set of general principles that cuts across all other sections of the Code and indicates which sections are to have extraterritorial application. The result is a descriptive guide that relies on a classification of transactions rather than a section-by-section enumeration...

This Article will not analyze the existing cases, except to the extent they …

"Force" Under Article 2(4) Of The United Nations Charter: The Question Of Economic And Political Coercion, James A. Delanis

Vanderbilt Journal of Transnational Law

Since the adoption of this article the meaning of the word force has been disputed by political leaders and delegates to the United Nations. Invariably these disputes have centered on whether the prohibition against "the threat or use of force" in article 2(4) applies only to the threat or use of military force or extends to the threat or use of political and economic force as well.

Prompted in some instances by the economic and political coercion of the Arab oil boycott, international scholars have begun to study the legal definition of the term force, as it is used in …

Unilateral Termination Of The 1954 Mutual Defense Treaty Between The United States And The Republic Of China Pursuant To The President's Foreign Relations Power, Ronald P. Cima

Vanderbilt Journal of Transnational Law

The act of terminating a treaty may initiate an international embroglio or create international arrangements as effectively as the act of entering into a treaty. Although the ramifications of each act may be significant, recent United States commentary has expressed greater concern over the constitutional efficacy of the methods by which the United States has entered international agreements than over the methods by which the United States has removed itself from them. President Carter's unilateral termination of the 1954 Mutual Defense Treaty between the United States and the Republic of China has raised the issue of which branch ought to …

Books Received, C. C. S.

Vanderbilt Journal of Transnational Law

BOOKS RECEIVED

THE EXTENSION OF CORPORATE PERSONALITY IN INTERNATIONAL LAW By David A. Ijalaye

Dobbs Ferry, New York: Oceana Publications, 1978. Pp. 354.

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HUMAN RIGHTS AND THE SOUTH AFRICAN LEGAL ORDER

By John Dugard

Princeton: Princeton University Press, 1978. Pp. 470.

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INTERNATIONALE BANKEN: AUSLANDSAKTIVITXTEN VON BANKEN BE-DEUTENDER INDUSTRIELANDER

By Ursel Stueber

Hamburg: Verlag Weltarchiv, 1974 (1977 Supplement available). Pp. 204.

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INVESTMENT INCENTIVE PROGRAMS IN WESTERN EUROPE

By B. T.Mansbach and R. J. Waldman

Washington, D.C.: International Division, Chamber of Commerce of the United States, 1978.

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SECESSION: THE LEGITIMACY OF SELF-DETERMINATION

By Lee C. Buchheit

New Haven, …

Taiwan Relations Act: Legislative Re-Recognition, Carl L. Gable

Vanderbilt Journal of Transnational Law

The surprise and drama of President Carter's recognition of the People's Republic of China as "the sole legal government of China" have overshadowed the unique legal concepts on which his policy rests. Those concepts impact directly on private trade and investment transactions with Taiwan. They may also sound the death knell for traditional definitions of the term "recognition" in international law and diplomacy.

The recognition of a government such as the People's Republic of China (and the related termination of recognition of the Republic of China government) is a unique hybrid: a political act of the executive branch which directly …

The 1977 Soviet Constitution: A Historical Comparison, Igor L. Kavass, Gary I. Christian

Vanderbilt Journal of Transnational Law

Throughout the Soviet Union's history, its four constitutions have been a reflection of the political climate of the particular period. The documents thus viewed provide a historical and political benchmark against which life and thought in the U.S.S.R. may be fairly accurately gauged. When Brezhnev addressed the USSR Supreme Soviet on October 4, 1977, to recommend the inevitable adoption of the 1977 Constitution, he again stressed the historical perspective in which the document must be viewed. He stated: "We will adopt the new Constitution on the eve of the 60th anniversary of the Great October Socialist Revolution. This is not …

The Beagle Channel Affair: A Failure In Judicial Persuasion, David M. Himmelreich

Vanderbilt Journal of Transnational Law

It has been demonstrated that although the Argentine Declaration of Nullity does not contain valid legal arguments for rejection, it does indicate weaknesses in the Court's opinion that make it vulnerable to rejection for political reasons. Specifically, the Court's remarks about Chilean possession of disputed islands outside the hammer were especially ill-advised. In addition, the Court failed to clearly articulate the reason for dividing the small Channel islands by appurtenance while refusing to do so for PNL. Finally, the Court's refusal to apply an Oceanic principle, even in a narrow sense, was questionable in a case in which the legal …

To Bring To An End The State Of War: The Egyptian-Israeli Peace Treaty, John F. Murphy

Vanderbilt Journal of Transnational Law

This article will describe and evaluate the Egyptian-Israeli Peace Treaty, and set it in historical and contemporary perspective in order to highlight some of the primary problems facing decision-makers in their deliberations on approaches to resolve the Arab-Israeli conflict in the Middle East. The article will then consider alternative courses of action available to the world community in light of principles of the United Nations Charter and of other sources of public international law and justice, political feasibility and the perceived interests of all parties to the conflict. Lastly, it will suggest new approaches to the problem, with a view …

Whither The Commission On Human Rights: A Report After The 35th Session, Gerson Smoger

Vanderbilt Journal of Transnational Law

The statement that the Commission on Human Rights "functions as the focal point of the United Nation's concentration on the international observance of human rights" is fraught with definitional inconsistencies. Throughout its existence one of the main problems faced by the members of the Commission has been to agree upon the appropriate limits of the expression "human rights." The question arises whether the term includes the right of a retired school teacher to speak out against his country's employment practices or his entitlement to receive social security after his departure from the teaching force. If these are both considered to …

Foreign Sovereign Immunity--The Status Of Legal Entities In Socialist Countries As Defendants Under The Foreign Sovereign Immunities Act Of 1976, Jere G. Thompson

Vanderbilt Journal of Transnational Law

The Foreign Sovereign Immunities Act of 1976 (FSIA) grants an "agency or instrumentality" of a foreign state substantially the same immunities that are provided to the state itself under the Act. An agency or instrumentality of a foreign state is defined in section 1603(b) of the FSIA. Section 1603(b) lists the following three criteria that must be met by an entity in order to qualify as an agency or instrumentality for sovereign immunity purposes: (1) the entity must be a legally independent person under the laws of the foreign state in which it was created; (2) the entity must be …

In Search Of An International Solution To Bribery: The Impact Of The Foreign Corrupt Practices Act Of 1977 On Corporate Behavior, Steven M. Morgan

Vanderbilt Journal of Transnational Law

Since enactment, the FCPA has been criticized for its ambiguity, pitfalls, and underlying policy weakness. For instance, a payment of $10,000 to a customs official by X Corporation in order to speed a shipment of perishables through customs would be a legal facilitating payment under the FCPA. Under the same circumstances, however, a $100 payment to a Cabinet minister who has the discretionary power to clear the shipment will subject the X Corporation to a million dollar fine and expose the guilty company officer, director or employee to a jail term of up to five years for violating the FCPA. …

Books Received, C. C. S.

Vanderbilt Journal of Transnational Law

APPLICABLE LAW IN INTERNATIONAL COMMERCIAL ARBITRATION By Julian D. M. Lew. Dobbs Ferry, New York: Oceana Publications,1978. Pp. 633.

COMPARATIVE LAW YEARBOOK Issued by The Center for International Legal Studies Germantown, Maryland: Sijthoff & Noordhoff, 1979. Pp. 300.

CONTEMPORARY INTERNATIONAL LAW: A CONCISE INTRODUCTION By Werner Levi Boulder, Colorado: The Westview Press, 1979. Pp.391.

DIRECT INVESTMENT AND DEVELOPMENT IN THE U.S. By Raymond J. Waldman Washington, D.C.: Transnational Investments, 1979.Pp. 413.

ENHANCING GLOBAL HUMAN RIGHTS Edited by J. I. Dominguez and others New York: McGraw-Hill, 1979. Pp. 270.

THE ETHNOGRAPHY OF LAW By Laura Nader Menasha, Wisconsin: American Anthropological Association, …

The Foreign Corrupt Practices Act: Problems Of Extraterritorial Application, Shelley O'Neill

Vanderbilt Journal of Transnational Law

The Foreign Corrupt Practices Act of 1977, an amendment to the Securities and Exchange Act of 1934 (Exchange Act), criminalizes bribery of foreign officials and requires audit controls and accurate reporting of transactions by United States companies. By enacting the legislation, Congress condemned foreign bribery as distorting trade and investment, undermining public confidence in United States enterprise, and damaging foreign relations. The Securities and Exchange Commission (SEC) also opposed corporate bribery as a threat to managerial accountability to shareholders. President Carter, while signing the legislation, emphasized its basic policy considerations.

The Act responded to increasing revelations concerning the widespread practice …