CHURCHILL & SIM v. GODDARD.

(1936) 54 Ll.L.Rep. 279

COURT OF APPEAL.

Before Lord Roche, Lord Justice Scott and Mr. Justice Eve.

Principal and agent-Sale of goods-Bills of exchange-Timber brokers-Sale of timber by foreign sellers to defendant, plaintiffs acting as del credere agents of sellers-"Payment to be made on receipt of and in exchange for shipping documents by approved acceptances of sellers' or authorised agents' drafts payable in London at four months from the date of bill of lading, or at buyers' option, in cash less 212 per cent. discount at three days' sight payable in London"-Sellers paid by plaintiffs against shipping documents-Documents forwarded to defendant-Bills of exchange drawn by plaintiffs upon defendant and accepted by him-Subsequent claim by defendant to reject timber as not being good tender under contract of sale- Objection upheld on arbitration-Bills dishonoured by defendant-Right of plaintiffs to claim against defendant as acceptor of bills-Whether acceptance of hills amounted to new contract -Bills of Exchange Act, 1882, Sects. 2, 27 (1), 30 (1), 38 (1), 54 (1).