Answer:
Dumping:
Dumping is a process in which an exporter may engage in supplying material to a foreign nation at a less price than the fair market value of the goods. This causes the domestic markets to suffer and thus it is also termed as an unfair trade practice.
Facts:
Nuclear Power Plants uses enriched Low enriched Uranium (LEU) as a fuel, Uranium has to be enriched in Seperative work units. Seperative Work Units enrich the Uranium and supply it to customers, However, Uranium has to be enriched constantly and otherwise it will be losing its quality. Some suppliers in U.S filed cases against the Uranium suppliers of other countries for supplying Uranium at lower price than the fair market value.
Outcome:
The Sale of Uranium by Foreign Suppliers at a less price than the market value cannot be considered as dumping because Uranium constantly requires processing and the value of the Uranium depends on the quality of the Uranium. In case the Uranium supplied by the Foreign Suppliers is of low quality, then they have to sell it for a lesser price because it requires further processing in SWU.
In case the foreign Suppliers engage in unhealthy price cuts and dumping practices then U.S Government can impose a quota system to cut down the practice. This is because by imposing a quota system the suppliers cannot dump the material at less than the fair market value for a loss. Therefore, they will not resort to such activities.
Answer:
Letters of credit is a written instrument in which the issuing bank agrees to pay the beneficiary (seller), in return, the account party (buyer) assures to reimburse the issuer for the payment made to the beneficiary after the beneficiary has complied with the terms of the letter. Letters of credit facilitate international transactions.
No , the court should not compel the bank to pay the beneficiary.
The letter of credit required goods to be transported by ship. Since the seller shipped the goods by air, the shipment was nonconforming. Thus, the bank was justified in dishonoring the letter of credit because the seller failed to comply with the terms specified in the letter.
Answer:
Foreign State Immunity Act, 1976:
The Foreign State Immunity Act issues in the year 1976 specify the conditions under which a foreign state or a country falls under the jurisdiction of the Federal court.
The Foreign State Immunity Act issues in the year 1976 specify the conditions under which a foreign state or a country falls under the jurisdiction of the Federal court.
• The States fall under the jurisdiction of the federal courts if they fail to establish that they are foreign states.
• In case the Country or the state engages itself in any commercial dealing in U.S or expropriates a property in U.S then they fail in establishing that they are foreign states.
Based on the above conditions, a foreign state may fail to convince that it is a foreign state.