Explain who will prevail in given contention

Assignment Help Business Law and Ethics

Reference no: EM131390964

Prior to 1918, a Russian corporation had deposited sums of money with August Belmont, a private banker doing business in New York City.

In 1918, the Soviet government nationalized the corporation and appropriated all of the corporation's property and assets, including the deposit account with Belmont. The deposit became the property of the Soviet government until 1933, when it was released and assigned to the U.S. government as part of an international compact between the United States and the former Soviet Union. The purpose of this arrangement was to bring about a final settlement of the claims and counterclaims between the two countries. The United States brought an action to recover the deposit from Belmont.

Belmont resists, arguing that the act of nationalization by the Soviets was a confiscation prohibited by the Fifth Amendment to the U.S. Constitution and was also a violation of New York public policy. Explain who will prevail.

Reference no: EM131390964

Questions Cloud

Explain equipment pricing and implementation costs : The perimeter assessment / current state is included as "Case 1 - Network Design". Explain Equipment pricing and implementation costs.

Read biblical leprosy-shedding light on the disease : Read Biblical Leprosy: Shedding Light on the Disease that Shuns, an article by Dr. Allen Gillen.

Explain does the district court have jurisdiction : NEPCO brought suit in a U.S. district court against the Libyan government and NOC, alleging breach of contract. Does the district court have jurisdiction? Explain.

How effective is an anonymous memo : When pointing out safety problems, an engineer is rightfully concerned about maintaining his job. However, how effective is an anonymous memo? Can anyone be expected to pay attention to something that a person won't sign?

Explain who will prevail in given contention : Belmont resists, arguing that the act of nationalization by the Soviets was a confiscation prohibited by the Fifth Amendment to the U.S. Constitution and was also a violation of New York public policy. Explain who will prevail.

Write five page essay on charles ponzi and his ponzi scheme : Write a 5 page essay (not Including Title and Reference Page) on charles Ponzi and his Ponzi Scheme and also mention the differences exist between the traditional crimes and the White Collar Crimes and cite all your resources accordingly.

Explain does the sherman act apply to this conduct : The indictment maintains that these activities had a substantial adverse effect on commerce in the United States and unreasonably restrained trade in violation of the Sherman Act. Does the Sherman Act apply to this conduct? Explain.

Write a five pages essay on charles bribery : Write a 5 page essay (not Including Title and Reference Page) on charles Bribery and what are the affects of it on the economy and cite all your resources accordingly.

What decision in the action to recover the painting : The administrator in turn brought an action against Jimmy, seeking the return of the Picasso.- What decision in the action on the note?- What decision in the action to recover the painting?

User Account

All Pages