CHURCHILL & SIM v. GODDARD.

(1935) 52 Ll L Rep 46

KING'S BENCH DIVISION.

Before Mr. Justice Branson.

Principal and agent-Sale of goods- Timber brokers-Sale of timber by foreign sellers to defendant, plaintiffs acting as del credere agents of sellers- "Payment to be made on receipt of and in exchange for shipping documents by approved acceptances of sellers' or authorised agents' drafts payable in London at four months from the date of bill of lading, or at buyers' option, in cash less 212 per cent. discount at three days' sight payable in London" -Sellers paid by plaintiffs against shipping documents-Documents forwarded to defendant-Bills of exchange drawn by plaintiffs upon defendant and accepted by him-Subsequent claim by defendant to reject timber as not being good tender under contract of sale-Arbitration pending-Right of plaintiffs (even assuming that defendant was entitled to reject in toto or to counterclaim in respect of a deficiency in quality) to claim against defendant as acceptor of bills-Whether acceptance of bills amounted to new contract.