In a significant judgment for international commodities trading, the High Court has partially set aside three awards rendered by the GAFTA Board of Appeal (the “Awards”), clarifying the circumstances in which a seller can claim the contract price under section 49(2) of the Sale of Goods Act 1979 (“SGA”). In coming to a decision, the judge reviewed all relevant case law, reaffirming the orthodox position that a seller’s right to recover the price where property in the goods has not passed only arises if payment is not conditional on delivery.
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Authors
Rebecca Crookenden, Managing Associate
Andres Bayona Garcia, Legal Analyst
