Read the full judgment text of HCA 000691/1987 on BabelCite. This High Court CFI judgment was delivered on 29 January 1988.
1. Both the Plaintiff and the Defendant are import and export trading firms, and both do business with mainland China. On the 12th July 1986 the Defendant entered into an agreement ("the original contract") with the China National Metals & Minerals Import & Export Corporation ("China National") by which the Defendant agreed to sell and China National agreed to buy 5,000 tons of electrolytic tin plate at US$458 per ton. Payment was to be by letter of credit ("L/C") to be opened by the Information