SINASON-TEICHER INTER AMERICAN GRAIN CORPORATION v. OILCAKES & OILSEEDS TRADING COMPANY, LTD.

[1954] 2 Lloyd's Rep. 327

COURT OF APPEAL.

Before Lord Justice Denning, Lord Justice Birkett and Lord Justice Morris.

Sale of goods (c.i.f.) - Documents - Banker's guarantee to sellers that buyers would take up documents on first presentation-Dispute as to time when guarantee should be furnished-Purpose of guarantee-Analogy between guarantee and letter of credit - Contract repudiated by sellers on ground that time for tender of guarantee had expired- Repudiation not accepted by buyers until some days later-Rights of parties during interim.