M/V PACIFIC PEARL CO LTD v OSIOS DAVID SHIPPING INC
 Lloyd's Rep. Plus 91
COURT OF APPEAL
Before Lord Justice Lewison, Lord Justice Males and Lord Justice Snowden
Collision – Security – Letters of undertaking – Collision jurisdiction agreement (ASG 2) – Reasonably satisfactory form of letter of undertaking – Sanctions clause – Offeree’s obligation to accept security – Construction of contract – Implication of terms.