Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

GLENCORE GRAIN ROTTERDAM B.V. v. LEBANESE ORGANISATION FOR INTERNATIONAL COMMERCE (LORICO)

[1997] 2 Lloyd's Rep. 386

COURT OF APPEAL

Before Lord Justice Nourse Lord Justice Evans and Sir Ralph Gibson

Sale of goods (f.o.b.) - Letter of credit - Non-contractual - Contract for sale of wheat - Payment to be by irrevocable letter of credit - Sellers alleged letter of contract non-contractual in that it contained term that payment to be made against bills of lading marked “freight pre-paid” - Whether sellers justified in failing to load vessel.

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