CENTRAL SOFTWOOD BUYING CORPORATION, LTD. v. WHITE SEA TIMBER TRUST, LTD.

(1933) 45 Ll.L.Rep. 220

KING'S BENCH DIVISION.

Before Mr. Justice Acton.

Sale of goods - Price - Sale of 500,000/600,000 standards of timber- "Buyers to pay for the freight . . . and for the balance on receipt of and in exchange for shipping documents . . . in cash less 212 per cent. discount . . ." - Subsequent agreement "to reduce the prices [under head agreement] by 20s. per standard overhead. All goods invoiced on or after Aug. 1, 1931, to be charged at the reduced prices and a further reduction of 5s. per standard to be made until a sum equivalent to 20s. per standard on all goods invoiced and paid for up to and including July 31, 1931, has been liquidated. In the event of this deduction not being sufficient, sellers undertake to settle the balance due to buyers in this connection in cash not later than Dec. 31, 1931"-Construction -Meaning and effect of price reduction