Commercial law Essay Example | Topics and Well Written Essays - 2000 words - 5

Commercial law - Essay ExampleOn the new(prenominal) hand, a Cost, Insurance and Freight (CIF) contract refers to an agreement of selling shipped goods at a price inclusive of the total cost of the goods, freight to the port destination and the maritime amends coverage. One of the major requisite features of CIF contracts is that it requires the vendor to ship the agreed goods in the contract, procure a bill of lading (contract of carriage), arrange for the insurance of the goods, and make a commercial invoice before finally tendering the documents to the buyer1. For example, in the role Biddle Brothers v Clemens Horst Co.2, it was command that the buyer was obliged to make the payments before the shipment of goods. This paper offers advice to the parties involved in the case namely, Bernadette, David and Barkers confide with particular focus to their obligations, limitations and potential remedies in the event that a breach of the contract occurs.Based on the circumstances fac ing Bernadette in the presented case, the major challenge that arises is whether under the English commercial laws, Bernadette would be subject to recover the money she paid for the documents from Arthur, claim the insurance policy or take legal fill against the carrier in tort compensation for the damaged goods since she had already made the contract payments. Bernadette is obliged by the law to pay Mr. Arthur (the seller) even if the rice was destroyed during shipment. This can particularly be seen in the case Manbre Saccharine Co Ltd v Corn Products Co Ltd3in which the court ruled that that the seller may still claim payment even if the goods are lost or destroyed after shipment.In my opinion, the only available remedy subject the English commercial laws is to sue Claudes vessel Jeanne dArc carrier for compensation of the loss incurred due to the damage of rice during the