UniOil,a U

question 59

Multiple Choice

UniOil,a U.S. firm,owns property in Nicaragua. When the government of Nicaragua seizes the property,UniOil asks a U.S. court to order the property's return. The court rules that Nicaragua is exempt from the court's jurisdiction. This is

• A)a travesty of justice.
• B)theact of state doctrine.
• C)thedoctrine of sovereign immunity.
• D)theprinciple of comity.

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Definitions:

Scienter

Knowledge of wrongdoing or fraudulent intent, often required to be proven in cases of securities fraud.

Unilateral Mistake

A situation in contract law where only one party is mistaken about a basic assumption on which the contract is based.

Subjective Value

The worth or importance of something based on personal preferences, opinions, or experiences, rather than its objective market value.

Fraudulent Misrepresentation

Occurs when one party deceives another by intentionally providing false information, leading to an agreement or transaction based on that misinformation.