Edition 4521: LawNewsIndex is a UK based daily legal news archive on Law, Lawyers, Law Firms, Justice, Jurisprudence, Legislation, Litigation, Legal Ethics & Human Rights since 2011.
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Today's Highlighted Video Story: Sharp Corp Ltd (Respondent) v Viterra BV (previously known as Glencore Agriculture BV) (Appellant) - The issue is:
"Where goods sold Cost & Freight free out are located at their discharge port, on the date of the buyer's default, in the circumstances as found by the GAFTA Appeal Board in the Awards, is "the actual or estimated value of the goods, on the date of default" under sub-clause (c) of the GAFTA Default Clause to be assessed by reference to:
a) The market value of goods at that discharge port (where they are located on the date of default); or
b) The theoretical cost on the date of default of (i) buying those goods Free on Board at the original port of shipment plus (ii) the market freight rate for transporting the goods from that port to the discharge port free out?"
"Where goods sold Cost & Freight free out are located at their discharge port, on the date of the buyer's default, in the circumstances as found by the GAFTA Appeal Board in the Awards, is "the actual or estimated value of the goods, on the date of default" under sub-clause (c) of the GAFTA Default Clause to be assessed by reference to:
a) The market value of goods at that discharge port (where they are located on the date of default); or
b) The theoretical cost on the date of default of (i) buying those goods Free on Board at the original port of shipment plus (ii) the market freight rate for transporting the goods from that port to the discharge port free out?"
A
selection of important developments in the world of law and justice
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