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

[1997] 1 Lloyd's Rep. 578

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Longmore

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.