Lloyd's Law Reports Plus

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

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MOEVE TRADING SAU (FORMERLY CEPSA TRADING SAU) v MAEL TRADING FZ LLC

[2026] Lloyd's Rep. Plus 74

KING’S BENCH DIVISION (COMMERCIAL COURT)

Before Peter MacDonald Eggers KC, sitting as a Deputy Judge of the High Court

Sale of goods – Sale of goods FOB – Goods loaded on board by seller, shipped and discharged to buyer and other parties – Buyer to pay by letter of credit – Letter of credit issued and confirmed – No presentation made by seller – Seller suing buyer for purchase price – Whether letter of credit conditional or absolute payment for cargo – Sale of Goods Act 1979, section 49(1).

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