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International Business Transactions

Comity

Comity
• Recognition which one action extends w/in its own territory to the legislative, exec, or judicial acts of another. It's not a rule of law, but one of practice, convenience, and expediency. More than courtesy, less than obligation
• Show due regard for another state's expression of understanding for international duty
• BUT it's limited. Comity will be withheld when it would be prejudicial to an interest of the U.S. (e.g. if it would violated 1st amendment)
• Equity principle (Criticized for being a conclusion not a principle)
• Somporex- Ct recognized UK judgment por comity

Reasons for Comity
• Reciprocity, justice, reasonable expectation of the businesses, stability, efficiency, inconsistent judgments

Choice of Law

Steps to take in a conflict (is this order right?)
• 1. Is there a conflict between the choices of law? Is there an actual conflict?
o Look at the two laws to see if they conflict
• 2. Choice of law rule
o use the forum's procedural choice of law rule to determine what choice of law rule is used
o In NY, they use the greatest interest analysis- who has the greatest interest in the case (very fact specific). Other types are: apply the forum where the case is, P's nationality, forum where the breach occurred
• 3. Decide whose law applies

Karaha- Indonesian oil drilling co. NY ct still does the interest analysis. Indo vs. NY interests

Bills of Lading and INCOTERMS

Bill of Lading
• Document of title- Whoever holds the bill of lading can be given the goods
• 1. K of carriage bt the shipper and carrier
• 2. Document of Title (Represents the goods)
o Give the goods to the person on the other side of the world who has the bill of lading (shipper sends it to the buyer and buyer gives it to the carrier to get the goods)

INCOTERMS
• Standardized terms for commerce and business practice- published by the International Chamber of Commerce (org that facilitates business)
• INCOTERMS are recognized by the...