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Franklin Mint Corporation v. Trans World Airlines, Inc. 690 F.2d 303

Published online by Cambridge University Press:  27 February 2017

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Type
Judicial Decisions
Information
American Journal of International Law , Volume 77 , Issue 2 , April 1983 , pp. 320 - 322
Copyright
Copyright © American Society of International Law 1983

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References

1 Oct. 12, 1929, 49 Stat. 3000 (1934), TS No. 876, 137 LNTS 11. The Convention, which the United States ratified in 1934, is a multilateral treaty governing a number of issues concerning civil aviation.

2 Article 18(1) of the Convention provides: “The carrier shall be liable for damage sustained in the event of the destruction or loss of, or of damage to, any checked baggage or any goods, if the occurrence which caused the damage so sustained took place during the transportation by air.”

3 525 F.Supp. 1288 (S.D.N.Y. 1981).

4 The court determined that Congress explicitly repealed the last official U.S. price of gold, and it therefore lacks any status in law or relationship to contemporary currency values; that the free market price of gold is highly volatile and fluctuates daily based, in part, on nonmonetary considerations of supply and demand; that the SDR can be modified or eliminated at the will of the IMF and has no basis in the Convention; and that the current French franc is simply one domestic currency whose value the French Government could unilaterally change at any time. 690 F.2d 303, 305–06.

5 Id. at 311.

6 Ibid.