The Calvo Clause was first published in 1955. The Calvo Clause and the Calvo Doctrine from which it stems concern a controversial issue in Latin American relations. This account, therefore, is of particular significance to diplomatic personnel, political scientists, students of Latin American history, and specialists in international law. Businesspeople conducting enterprises in Latin American countries will find the book of practical value. The Calvo Doctrine is based on the theories of Carlos Calvo, a nineteenth-century Argentinian, who sought to establish the principles that sovereign states enjoy the right to freedom from interference by other states and that aliens are not entitled to rights or privileges not accorded to nationals, and that they may therefore seek redress for grievances only from local authorities. Although Calvo's concepts failed to win acceptance by international lawyers in the United States or Europe, they were enthusiastically received in Latin America. Many contracts executed in Latin American countries with aliens contain the Calvo Clause, binding the alien to local redress and obliging him or her to forgo the right of appeal for diplomatic protection in case of dispute arising from the contractual relationship. Professor Shea outlines the origins of the Calvo Clause, presents the attitudes of the various governments, discusses the views aired at inter-American conferences, presents the legal issues, analyzes in detail the arbitral decisions, and predicts future developments. He is the first writer on the subject who makes full use of source materials in Spanish as well as in English, thus presenting both United States and Latin American viewpoints.