SINASON-TEICHER INTER AMERICAN GRAIN CORPORATION v. OILCAKES & OILSEEDS TRADING COMPANY, LTD.

[1954] 1 Lloyd's Rep. 376

QUEEN'S BENCH DIVISION.

Before Mr. Justice Devlin.

Sale of goods (c.i.f.) - Documents - Banker's guarantee to sellers that buyers would take up documents on first presentation-Dispute as to time when guarantee should be furnished-Purpose of guarantee-Analogy between guarantee and letter of credit- Contract repudiated by sellers on ground that time for tender of guarantee had expired- Repudiation not accepted by buyers until some days later-Rights of parties during interim. Arbitration-Case stated-Questions for Court- Refusal by learned Judge to consider alternative argument raised for first time before Court-Findings of arbitrators not directed to such argument-Duty of parties at arbitration.