Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

VOEST ALPINE INTERTRADING G.m.b.H v. CHEVRON INTERNATIONAL OIL CO. LTD.

[1987] 2 Lloyd's Rep. 547

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Hirst

Sale of goods (f.o.b.) - Daisy-chain contracts - Agreement for sale of Brent crude oil within ambit of Brent Forward Market - Circle identified - Negotiations for a book-out - Whether book-out agreed - Failure to agree base price - Whether defendants obliged to pay full purchase price - Whether obligations suspended during negotiations - Whether plaintiffs repudiated contract.

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