WOODHOUSE A.C. ISRAEL COCOA LTD. S.A. AND A.C. ISRAEL COCOA INC. v. NIGERIAN PRODUCE MARKETING COMPANY LTD.
 1 Lloyd's Rep. 25
COURT OF APPEAL
Before Lord Denning, M.R., Lord Justice Phillimore and Lord Justice Cairns
Estoppel - Correspondence - Principles to be applied by Court.
Arbitration - Construction of document by umpire - Whether binding on Court.
Sale of goods-Devaluation-Sale of cocoa by Nigerian suppliers to London traders - Payment to be made in Nigerian £-Offer by sellers to accept "payment in pounds sterling" accepted by buyers-Devaluation of £ sterling -Whether loss borne by sellers or buyers- Whether sellers estopped on correspondence.