Explain should the doctrine apply

Assignment Help Business Law and Ethics

Reference no: EM131390981

Three banks that are wholly owned by the Republic of Costa Rica had issued promissory notes, payable in U.S. dollars in New York City. The notes are now in default due solely to actions of the Costa Rican government, which had suspended all payments of external debt because of escalating economic problems.

Efforts by Costa Rica to curb foreign debt payment difficulties conflicted with U.S. policy for debt resolution procedures as conducted under the auspices of the International Monetary Fund.

A syndicate of U.S. banks brought suit to recover on the promissory notes. The three Costa Rican banks assert the act of state doctrine as a defense. Should the doctrine apply? Explain.

Reference no: EM131390981

Questions Cloud

Calculate the total lab points earned for the first student : CIS110- Calculate the total lab points earned for the first student in cell T8 in the Grades worksheet. The first student earned 93 lab points. Calculate the average of the two midterm tests for the first student in cell W8.

What does the eis mandate in given situation : The lower court held that the EIS was adequate, but the Court of Appeals reversed, concluding that the NEPA required that actions be taken to mitigate the adverse effects of a major federal action and that the EIS contain a detailed mitigation pla..

What is the professional background of this leader : Former Status of Diversity in the Organization: Describe the status of the organization before the leader became a part of the organization. What role did diversity play before this leader came on-board?What is the professional background of this l..

Conduct a risk analysis and risk evaluation for the risks : Assignment - Diploma of Finance and Mortgage Broking Management. Identify the stakeholders you would consult in establishing context and the tools you would use in identifying CCF & MB's risks. Conduct a risk analysis and risk evaluation for the ris..

Explain should the doctrine apply : A syndicate of U.S. banks brought suit to recover on the promissory notes. The three Costa Rican banks assert the act of state doctrine as a defense. Should the doctrine apply? Explain.

Analyze this case from perspective of risk–benefit analysis : Is it reasonable to expect passengers to understand the risks involved? Even though flying is acknowledged to be a risky endeavor?

May the above foreign countries recover treble damages : The plan members also agreed not to grant foreign producers licenses to the manufacturing technology of any of their ‘‘big money'' drugs. May the above foreign countries recover treble damages for violation of the U.S. antitrust laws? Why?

Explain whether given defense applies in the situation : The Dominicana Airlines asserts the act of state doctrine as a defense. Explain whether this defense applies in this situation.

What ethical responsibility for the accidents does it have : Given that McDonnell Douglas management knew that there was a problem with the cargo door as early as 1970, when the prototype failed, and knew that there could be catastrophic failure of the airplane's superstructure, leading to an accident, what..

User Account

All Pages