Cif And Fob Contracts Essays

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S20 So GA 1979 provides that, unless otherwise agreed, risk will usually pass with but, frequently not the case in international contracts. contracts, risk will pass on shipment, regardless of whether property passes at that and this is so even where the goods have been shipped in unsegregated parcels.

In particular, unlike ownership, risk can pass before the goods have been ascertained, at any rate where the goods form part of a larger, but identified, bulk. There are, however, three situations which require special mention: (1) First, in an contract, where the seller is obliged physically to deliver the goods at the discharge port, risk will often pass at that stage.

If, however, the obligation that the vessel should arrive at the discharge port within the period specified is an absolute one, risk of delay to the vessel may, in effect, fall on the seller. Leggatt J said: It seems to me that the natural construction of the clause is that the nominated vessel shall be such as is expected to arrive within the period mentioned.

Whether the obligation of the seller that the ship should arrive within the period is an absolute one will, of course, depend on the wording of the contract, and two contrasting cases illustrate this point. It does not wear the air of a contract designed to procure the guarantee of delivery within the period stipulated.

It can be seen that the cargo was sold afloat, and the wording of the contract was far more rigorous than in the Wise.

Cif And Fob Contracts Essays

Phillips J held that the sellers were in breach, since the clause was drafted in such a way as to impose an absolute obligation.Where, things do go wrong, the precise timing of the transfer may become crucial.First, if the seller or buyer goes into liquidation while the goods are in transit, the creditors of the insolvent party will wish to know whether the goods are owned that party since this may determine whether the goods will form part of his estate.SPECIFIC GOODS: goods identified at the time the contract of sale is concluded.UNASCERTAINED GOODS: goods identified generic description goods from a larger bulk that been segregated as yet.reported cases, relevant statutes and standard term contracts • Analysing and resolving practical problems Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.In addition to this, students registered for this module typically also have to pay for: Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate.Most contracts for the trading of commodities around the world are governed by English law.The abbreviations cif and fob have now been common in commercial parlance for many centuries and have generated several variants through successive versions of Incoterms: English contract and commercial law have thus placed an indelible imprint on the law of international trade.On a true construction of the contract obligation was to load a contractual cargo on board a nominated vessel within a time which in the ordinary course of events would enable the cargo to arrive at both discharge ports within the stipulated period.contrast, in the Jambur 10 the clause read: Latest 30th April 1990 cif as full cargo per m.t. on 28th The vessel was involved in a collision and did not arrive in time.


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