NISSHO IWAI PETROLEUM CO. INC. v. CARGILL INTERNATIONAL S.A.

[1993] 1 Lloyd's Rep 80

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Hobhouse

Sale of goods (f.o.b.) - Breach - Brent crude oil market - Nomination - Under Brent crude oil 15-day contract sellers to declare to buyers by telephone not later than 17 00 hours on 15th day - Sellers alleged buyers failed to answer telephone until after deadline passed - Whether buyers in breach - Whether sellers failed to mitigate their loss.