MARUBENI HONG KONG AND SOUTH CHINA LTD. v. GOVERNMENT OF MONGOLIA

[2004] 2 Lloyd's Rep. 198

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr. Justice Cresswell

Guarantee - Agency - Contract of sale - Goods supplied by Hong Kong company to Mongolian company - Sums due guaranteed by letter signed by Mongolian Minister of Finance - Subsequent variation of contract of sale - Claim under the guarantee - Whether Minister of Finance expressly authorized to grant guarantee - Whether Mongolian Government held out Minister as having authority by legal opinion from Deputy Minister of Justice - Whether Mongolian Government discharged as guarantor by subsequent variations to contract of sale.