A power of sale under a ship mortgage can only be exercised when a sum is due.
Citations:
[1968] 2 Lloyds Rep 520
Jurisdiction:
England and Wales
Cited by:
Cited – Banque Worms v Owners of the Ship Or Vessel Maule and others PC 24-Feb-1997
(Hong Kong) The ship-owners challenged the arrest of the ship under a mortgage in favour of the bank. They said no instalment was due.
Held: The plaintiffs were not obliged to give notice accelerating repayment of the loan before exercising . .
Lists of cited by and citing cases may be incomplete.
Transport
Updated: 23 November 2022; Ref: scu.242405