LODERS & NUCOLINE, LTD. v. THE BANK OF NEW ZEALAND.

(1929) 33 Ll.L.Rep. 70

KING'S BENCH DIVISION.

Before Mr. Justice Wright.

Sale of goods (c.i.f.)-Insurance policy- Form-Term of bill of lading that freight payable if and when vessel arrived at port of destination-Total loss of vessel on voyage-"Insurance . . . to be effected by sellers at the contract price"-Meaning of "contract price" - Valued policy - Tender of policy containing "freight contingency clause"-Breach by sellers in making separate insurances on goods and freight-Right of buyers to policy covering freight and to recover such freight under policy (even though freight never at risk)-Whether insurers entitled to re-open valuation- Marine Insurance Act, 1906, Sects. 27 (3), 75 (2) - Award in favour of buyers upheld.