THe effect of article IX is to make plain that what article IV rule 5 refers to is the gold value of the pound sterling not its nominal or paper value. ‘Fortunately for carriers this result is not disastrous, as most nations where Hague Rules are still mandatorily applicable have converted the package limitation into local currency instead of using the gold limitation. However, great care is needed in drafting bill of lading contracts (which usually contractually apply Hague Rules to shipments from those nations that have no mandatorily applicable law) to write in only Articles I to VIII of the Hague Rules and then provide separately for a package limitation of andpound;100 (or whatever), thereby avoiding the ‘Gold Clause’ trap.’
Judges:
Hobhouse J
Citations:
[1988] 2 Lloyds Rep 574
Statutes:
Cited by:
Cited – Dairy Containers Ltd v Tasman Orient Line Cv PC 20-May-2004
PC (New Zealand) The appeal concerned the correct interpretation of a damage limitation clause in a contract for the carriage of goods by sea.
Held: Clause 6(B)(b)(i) must be construed in the context of the . .
Lists of cited by and citing cases may be incomplete.
Transport
Updated: 30 April 2022; Ref: scu.199557
