Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

WOODHOUSE A.C. ISRAEL COCOA LTD. S.A. AND A.C. ISRAEL COCOA INC. v. NIGERIAN PRODUCE MARKETING COMPANY LTD.

[1972] 1 Lloyd's Rep. 439

HOUSE OF LORDS

Before Lord Hailsham of St. Marylebone, L.C., Viscount Dilhorne, Lord Pearson, Lord Cross of Chelsea and Lord Salmon

Estoppel - Correspondence - Whether ambiguous - 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.

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