Overlap of termination terms and principles of contract law : the Toba Trading case /
Newland Shipping and Forwarding Limited and Toba Trading FZC are both engaged in trading of petroleum products. The two get into contracts for the sale of gasoil and gasoline and are conducting themselves as reasonable ordinary business parties. The buyer makes an advance payment only to realise tha...
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| Format: | eBook |
| Language: | English |
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London :
Indian Institute of Management, Ahmedabad,
2019.
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| Series: | SAGE Business Cases.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | Newland Shipping and Forwarding Limited and Toba Trading FZC are both engaged in trading of petroleum products. The two get into contracts for the sale of gasoil and gasoline and are conducting themselves as reasonable ordinary business parties. The buyer makes an advance payment only to realise that the goods would not get delivered. Realising that the money is stuck, the buyer gets into new contracts where the advance would get part utilised. Having burnt its fingers with the party, this time, the buyer insists on getting a control over the goods before paying. The seller claims this to be a breach of the contract and terminates the contract. The buyer is now in further trouble. Not only is his advance stuck, the buyer faces the prospect of paying damages for the breach and termination of the contract. To save himself, the buyer must find legal and technical points to claim the termination to be invalid. Before the High Court of the UK, which had jurisdiction over the dispute, ordinary business dealings were magnified into significant contentious legal disputes, involving diverse legal principles. The judgment presents a comprehensive view of, among others, termination of contract, anticipatory breach, variation of contract and unjust enrichment. |
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| Item Description: | Originally Published InPathak, A. (2019). Overlap of Termination Terms and Principles of Contract Law: The Toba Trading Case. IIMA/BP0431. Ahmedabad, India: Indian Institute of Management, Ahmedabad. |
| Physical Description: | 1 online resource. |
| ISBN: | 9781529753240 1529753244 |