Jones Oil,a small United States oil company,started doing business in a foreign country.The foreign country later decided to take over the oil industry,including Jones Oil's operation.The foreign country paid Jones adequate compensation in United States dollars.The foreign country's action is called:

Question

Quizplus · Accepted Answer

Expropriation is the government's seizure of a privately owned business or property without the owner's consent. In this case, Jones Oil's operation being taken over by the foreign country was an example of expropriation. The fact that Jones Oil was compensated adequately in U.S. dollars indicates that the seizure was not a confiscation, which is an unlawful seizure without compensation. Repatriation and retribution are not applicable to this scenario.

Jones Oil,a Small United States Oil Company,started Doing Business in a Foreign