PUNJAB NATIONAL BANK V DE BOINVILLE AND OTHERS

(1991) 1 Re LR 91

Court of Appeal

Before Lord Justice Dillon, Lord Justice Staughton and Lord Justice Mann

Broker - Duty of care - Assignee - Bank to issue letter of credit in favour of sellers of goods - Buyers obtained insurance policies to cover bank against default in reimbursement of money due under credit - Buyers in liquidation - Claim by bank against insurers or brokers who effected policies - Bank’s title to sue - Extent of broker’s duty to bank in contract and in tort.

Contract - Construction - Whether person contracting as agent or principal - Whether court could look at deleted words.

Negligence - Insurance broker - Extent of duty of care.