The parties disputed the result of a contract for the purchase of cotton with the contract underwritten by a bank.
Held: After the breach of the contract, the claimant had failed properly to mitigate his losses. That failure in turn itself operated as a new cause with the result that the guarantor under the letter of credit was released from his liability. The claimants had a duty to mitigate its losses was not removed by section 11 of the 1977 Act.
Sir Anthony Clarke MR, Lord Justice Laws and and Lord Justice Moore-Bick
[2008] EWCA Civ 819, Times 12-Aug-2008, [2008] Bus LR 1762
Bailii
Torts (Interference with Goods) Act 1977 11
England and Wales
Citing:
Appeal from – Uzinterimpex JSC v Standard Bank Plc ComC 15-May-2007
The court considered the liability of a bank under its guarantee of a transaction. The court set out the elements of the tort of deceit: (a) The defendant must have made a representation which can be clearly identified.
(b) It must be a . .
Lists of cited by and citing cases may be incomplete.
Updated: 12 August 2021; Ref: scu.270813
