Chapter 12

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Author:
Ladybird1106
ID:
299326
Filename:
Chapter 12
Updated:
2015-03-27 20:49:18
Tags:
International Law
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Description:
International Law
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  1. Foreign Corrupt Practices Act (FCPA)
    359
    • Two principal requirements:
    • 1) Financial records and accounts must be kept.
    • 2) Business must have an internal accounting controls.

    *Fact pattern
  2. FCPA also prohibits
    361
    Corrupt payments through intermediaries.
  3. FCPA Violations
    361
    Criminal penalties may be imposed: corporations up to $200,000; officers and stockholders $100,000. and imprisonment for up to 5 yrs
  4. Racketeer Influenced and Corrupt Organization (RICO)
    361
    laws dealing with organized crime fall under RICO (more to come)

    *EXAM
  5. Expropriation
    362
    the seizure of foreign-owned property by a gov. Russia invades Ukraine, U.S. gov. seizes Russian owned U.S. property.

    *EXAM
  6. Nationalization
    363
    a claim made by a foreign government that it owns expropriated property. power of eminent domain. the gov assumes ownership of the property

    *EXAM
  7. Public International Law
    367
    examines relationships among between nations. U.S.gov. business with China

    *EXAM
  8. Private International Law
    368
    Examines relationships created by commercial relationships. business to business

    *EXAM
  9. Sovereign Immunity
    381
    • a foreign sovereign claims to be immune from suit entirely based on its status as a state. suing foreign governments in the U.S.
    • Foreign Sovereign Immunities Act (FSIA)

    *EXAM
  10. Foreign Sovereign Immunities Act (FSIA)
    rejects immunity for commercial acts carried on in the U.S. or having direct effects in this country
  11. Suing Foreign Firms in the United States
    Must have "minimum contracts"

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