Will the buyer succeed in recovering the excess

Reference no: EM131184473

A shipbuilder had contracted to build a tanker for North Ocean Tankers. The contract was in US dollars and didn't contain any provisions for currency fluctuations.

Approximately halfway through construction of the ship, the United States devalued its currency by 10 per cent.

As the shipbuilder stood to make a loss on the contract, it demanded that an extra US$3 million be paid or it would stop work. The buyer reluctantly agreed under protest to pay, as he already had a charter for the tanker and it was essential that it be delivered on time. The buyer didn't commence action to recover the excess payment until some nine months after delivery. Will the buyer succeed in recovering the excess.

Reference no: EM131184473

Questions Cloud

What is the path the electron describes : Force on point charge. Two positive point charges, each equal to Q, are located a distance d apart. An electron, of charge e and mass m, is held in position on the centerline between them and at a distance x from the line connecting the two charge..

What is the most abundant steroid in the body : What is the steroid that regulates secondary sexual characteristics? What is the most abundant steroid in the body? DNA __________ utilize(s) unique fragments of DNA to identify a specific individual.

Was the script engaging : How well was it done? (Again, you will expand your knowledge of theatrical techniques as the course progresses. For now, look at basic colors of design. Were they appropriate for the genre? Was the script engaging? Were the actors believable? Did ..

Find a point where the electric field intensity is zero : Sketch the electric field intensity of this arrangement using field lines.

Will the buyer succeed in recovering the excess : he buyer didn't commence action to recover the excess payment until some nine months after delivery. Will the buyer succeed in recovering the excess.

Determine the number of gates : Determine the number of gates that can be enclosed in one package if it contains the folowing type of gates:

Find the electric field intensity at any point in space : Show that the electric field intensity is perpendicular to the two dotted lines shown (at 45°)

What will it sell at today to yield the given purchaser : $100,000, 182-day Province of New Brunswick Treasury bill was issued 66 days ago. - What will it sell at today to yield the purchaser 4.48%?

Was the first to take the radical step of what : When did the concept of incarcerating convicted offenders as a form of punishment become the norm for corrections?

User Account

All Pages