Zeevi and Sons, Ltd., et al. v. Grindlays Bank (Uganda) Ltd.

Abstract

International law in general — International comity — Extraterritorial effect of foreign public law — Public policy of New York — Action to enforce letter of credit — Repudiation by attempted confiscatory act of Government of Uganda — International Monetary Fund Agreement — The law of the United States

Jurisdiction — In general — Territorial — Over territory in general and persons and property situated therein — Action to enforce letter of credit — Attempted confiscatory act of Government of Uganda — Repudiation of contract by instructions to New York agents — Whether cause of action occurred in New York — Effect to be given to foreign public laws — Comity — Public policy — International Monetary Fund Agreement — The law of the United States

States as international persons — In general — Recognition of acts of foreign States and governments — Act of State doctrine — Letter of credit — Repudiation by issuing bank on instruction from government — Whether instruction an act of State — Whether confiscatory — Whether repudiation taking effect in Uganda or New York — Whether New York courts obliged to give effect to instructions of foreign government — Public policy of United States and New York — International comity — Extraterritorial effect of foreign public laws — International Monetary Fund Agreement — Whether letter of credit an exchange contract — Whether instruction to repudiate entitled to recognition under Agreement — The law of the United States