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Business Law, Texts and Cases Research Assignment (Multiple Choice Questions Sample)
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The principle of comity refers to the respect that one authority can give by enforcing the laws of another jurisdiction. It is not an obligation for comity to exist, but rather, it is granted out of friendship or respect. Therefore, comity can also be said to be a legal reciprocity where one jurisdiction may extend its courtesies to different countries. This can only be achieved by understanding the effect of the actions of their judiciary, the legislature, and the executive. For example, a court is expected to act in a way that does not demean the laws of another jurisdiction. This leads to the proper reciprocation of any favor from one nation to the other. For example, anybody given force of law like the legislated rule in the United States will recognize and reinforce foreign judgment from a different court like that of Austria simply because their legal procedures look alike. Comity in the United States allows citizens to get all privileges as per their constitution (Cross et al., 456). Comity under the judicial context should not be misinterpreted that all laws are to be the same and uniform under the same jurisdiction, but rather, should be applied only to the point that foreign laws do not conflict with the country's public policy. Comity has therefore helped states recognize matters like those of marriages in other nations.
The act of state doctrine is employed so that it can maintain peace and harmonious relations with different nations. Every state here is required to show respect to other different sovereign states. Hence, courts from these two countries are required not to sit and judge each other. This doctrine is practiced mostly by the United States, where it provides protection to the state and also showing respect for other nation's sovereignty. Therefore, the state doctrine cares for healthy relationships between different nations and honor decisions of governments globally by acknowledging judgments as passed by other countries (Cross et al., 459).
An international business transaction keeps its focus on the firm's international operations from the private sector perspective. It puts more emphasis on the issues that are more important in the formation and enforcement of the international deals. International business transaction does not work without determining the limitations and advantages of its business. The operation is usually carried out through licensing agreements, joint venturing, and establishing branches. The International business transaction does not deal with national and international trades but a rather private international business law. This kind of commerce is important as it deals with three main areas of business. For example, the export of goods, licensing and franchising, and other foreign direct capital in expectation.
There are differences between expropriation and confiscation. Firstly, expropriation can be referred to as an act whereby the government takes property that is owned privately so that it can be used for purposes that benefit the whole public. In the United States, private property cannot be expropriated. Here, the assets are protected by the constitutional laws which state how property cannot be put to use for the public without just compensation. On the other hand, confiscation is the act of seizing property without remuneration and giving it to the public treasury. This law is mainly done to disrupt criminal actions by retaining assets that could have been of great use to the individual. Unlawful things like illicit stuff get reallocated by the police, a government body, hence, diminishing it from the owner and at last making the property useless because it is held.
The Sherman act is a landmark law in the United States that is passed by the presidency. Its primary function was to curb power concentration that affected trade and also reduce economic competition. This act...
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