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Securities Law

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Securities Law:

Common law does not act as binding precedent on admiralty courts, but it and other law may be used when no law on point is available.Admiralty Courts assume jurisdiction by virtue of the presence of the vessel in its territorial jurisdiction irrespective of whether the vessel is national or not and whether registered or not and wherever the residence or domicile or their owners may be. A vessel is usually arrested by the court to retain jurisidiction. State owned vessels are usually immune from arrest. Parties subject to admiralty may not contract out of admiralty jurisdiction, and states may not infringe on admiralty jurisdiction either judicially or legislatively. Since admiralty courts, however, are courts of limited jurisdiction (which does not extend to nonmaritime matters).

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