In the 1902 case of Nashua Savings Bank v. Anglo-American Land, Mortgage and Agency Company, the U.S Supreme Court was tasked with determining whether a New Hampshire state law could be applied to an English corporation doing business in New Hampshire. The dispute arose when Nashua Savings Bank sued Anglo-American Land for failing to pay taxes on its property located in New Hampshire. The bank argued that under state law, it had the right to sue for unpaid taxes if a company failed to do so within six months after they were due. Anglo-American Land countered by arguing that as an English corporation, it wasn't subject to this particular state law because it violated international comity (the legal principle where jurisdictions respect each other's laws). However, the court ruled against them stating that corporations operating within a foreign jurisdiction must abide by local laws unless those laws infringe upon federal or constitutional rights which was not applicable here. The ruling affirmed states' rights over their own taxation policies and set precedent regarding how foreign corporations are treated under American jurisprudence.

The dissenting opinion in the case of Nashua Savings Bank v. Anglo-American Land, Mortgage and Agency Company argued that the majority's decision was incorrect because it failed to consider key aspects of English law. The dissenting justices believed that under English law, a mortgage is considered real property until foreclosure occurs, which contradicts the majority's view that a mortgage is personal property. They also disagreed with the majority's interpretation of New Hampshire state laws regarding mortgages and insisted these laws did not apply since this case involved an international transaction between American and British companies. Furthermore, they felt there were significant differences between American and English legal concepts related to mortgages which should have been taken into account by their fellow justices when making their ruling.