Damon Compania Naviera S.A. v. Hapag-Lloyd International S.A. (The Blankenstein, Bartenstein and Birkenstein) - Court of Appeal (Stephenson, Fox and Robert Goff L.JJ.) - 1 November 1984

Sale of ship concluded by telex - Whether buyers’ failure to sign MOA entitled sellers to recover deposit

On 8 July 1977 the buyers concluded by telex an agreement with the sellers to purchase three vessels for $2,365,000. The agreement incorporated the terms of the Norwegian Saleform Memorandum of Agreement. The MOA itself was sent to the buyers on 15 July 1977. It was dated 8 July 1977. Clause 2 of the MOA provided: