SAN PEDRO COMPANIA ARMADORA S.A. v. HENRY NAVIGATION COMPANY LTD. AND PABLO COMPANIA MARITIMA DE DESARROLLO S.A. (THE "RANGER")

[1970] 1 Lloyd's Rep. 32

QUEEN'S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Mocatta

Sale of ship-Vessel sold by plaintiffs to first defendants under contract requiring first defendants to pay deposit into joint account of plaintiffs' agents and first defendants - Subsequent sale of vessel by first defendants to second defendants- Deposit paid into joint account in names of plaintiffs' agents and second defendants- Second contract cancelled because of late delivery of vessel-First contract wrongfully repudiated by first defendants-Claim by plaintiffs for release of deposit-Whether second defendants were stakeholders of deposit. Agency-Formation-Deposit on sale of ship- Consent to use of name as joint account holder-Whether agent of depositor.