WILSON, SMITHETT & COPE LTD. v. TERRUZZI

[1976] 1 Lloyd's Rep. 509

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Ormrod and Lord Justice Shaw

Contract-Illegality-Exchange control-English broker employed by Italian principal resident in Italy to deal on London Metal Exchange -Claim by broker to be reimbursed in respect of transactions effected-Whether transactions authorized by principal-Whether transactions unenforceable on ground of prohibition by Italian exchange control regulations-Whether transactions "exchange contracts"-Bretton Woods Fund Agreement, art. VIII (2) (b).