Export Administration Act (EAA) Of 1979: P.L. 96-72 (September 29, 1979) provides legal authority to the President to control U.S. exports for reasons of national security, foreign policy, and/or short supply. However, the FACT Act of 1990 (P.L. 101-624) provides for contract sanctity by prohibiting the President from restricting the export of any agricultural commodity already under contract for delivery within 270 days from the date the embargo is imposed, except during national emergency or war. With the expiration of EAA in 1994, the President declared a national emergency and exercised authority under the International Emergency Economic Powers Act to continue the EAA export control regulations then in effect by issuing Executive Order 12924 on August 19, 1994, last extended by the Presidential Notice of August 13, 1998.

 

Related Words

Export Administration Act (EAA) Of 1979: P.L. 96-72 (September 29, 1979) provides legal authority to the President to control U.S. exports for reasons of national security, foreign policy, and/or short supply. However, the FACT Act . . . View Full Definition

Outside Of You: Used for listed equity securities. Another order bidding for or offering stock at the same price that the trader has put on the floor himself, represented by another broker in the trading cr . . . View Full Definition

Overreaction Hypothesis: The supposition that investors overreact to unanticipated news, resulting in exaggerated movements in stock prices followed by corrections.

Out-Of-The-Money Option: A call option is out of the money if the strike price is greater than the market price of the underlying security. That is, you have the right to purchase a security at a price higher than t . . . View Full Definition