The trust receipt as a security device originated in connection with purchases by importers from foreign manufacturers; however, it may be used as well in financing domestic transactions, and today it has become well entrenched in the domestic business world of the United States. The first extensive domestic use of this security device was by the automobile industry. From the automobile industry the trust receipt has now spread to many…
Faced with an international crisis of the first magnitude, the United States is once again confronted with the problem of the invocation of sanctions for violations of the rectitude norm of American or world proportions. The problem may require intensive scrutiny as an outgrowth of the urgent demands of policy developments on a rapidly changing national and international scene. Inevitably an operative theory of sanctions is a function of the…