Nigeria, experiencing an economic boom due to exports of high-grade oil, embarked on an infrastructure development plan.

Question:

Nigeria, experiencing an economic boom due to exports of high-grade oil, embarked on an infrastructure development plan. Accordingly, Nigeria entered into at least 109 contracts with 68 suppliers for the purchase of cement at a price of almost $1 billion. Among the contracting suppliers were four American corporations, including Texas Trading & Milling Nigeria misjudged the cement market (having anticipated only a 20 percent fulfillment rate) and was forced to repudiate most of the contracts. Texas Trading & Milling and three other American companies brought suit, alleging anticipatory breach of contract. Nigeria claimed immunity under the Foreign Sovereign Immunities Act of 1976. Is Nigeria’s claim correct? Explain.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...