Constitutional Law Keyed to Stone
Dames & Moore v. Regan
In 1979 American embassy personnel were seized and held hostage in Iran. In response President of the United States Jimmy Carter (President Carter), acting pursuant to the International Emergency Economic Powers Act (“IEEPA”), froze Iranian assets in the United States. In 1981 the hostages were released pursuant to an executive agreement (the “Agreement”) that (1) terminated legal claims between the government of each party and the nationals of the other and (2) brought about the transfer of all Iranian assets held in the United States by American banks. After taking office, President Reagan issued an Executive Order ratifying the Agreement, thereby suspending Dames & Moore’s legal claims with the Iranian government.
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