HILLAS & CO., LTD. v. ARCOS, LTD.

(1931) 40 Ll L Rep 206

KING'S BENCH DIVISION.

Before Mr. Justice MacKinnon.

Sale of goods - Breach - Agreement by plaintiffs to purchase from defendants "softwood goods of fair specification over the season 1930" - "Buyers shall also have the option of entering into a contract with sellers for the purchase of 100,000 standards for delivery during 1931. Such contract to stipulate that whatever the conditions are, buyers shall obtain the goods on conditions and at prices which show to them a reduction of 5 per cent. on the f.o.b. value of the official price list at any time ruling during 1931" - Option exercised - Failure of defendants to implement contract - Enforceability - Whether amounting to an agreement complete in itself or to an agreement that at a future date an agreement would be completed - Measure of damages - Contract and market prices - Limitation of market