TRANS TRUST S.P.R.I v DANUBIAN TRADING CO.LTD
Introduction- question 1
The problem in The Trans Trust Sprl v. Danubian Trading Co. Ltd. Case is if there is a contract or not between two parties. Also, whether a letter of credit is an essential part for forming a contract. In the case there is a buyer who is from Belgium and a seller who is from the United Kingdom. The British seller has arrange to buy the goods from a third party (American company). Furthermore, there was a stipulation between the parties requiring the buyer who is the defendant to deliver a letter of credit forthwith, however, he didn’t do so. The seller, who is the plaintiff, prompt the buyer to open a letter of credit as soon as possible. The seller required the letter of credit it in order to insure the American wholesaler that he will be paid. The buyer never opened a letter of credit. Subsequently, the seller started proceedings against the buyer, calming damages for breach of contract. The seller claimed that it was the buy’s duty to provide him with a letter of credit as soon as possible, buyer’s failure to do so constitute a breach of contract. According to the buyer there wasn’t a contract between them and he claimed that the letter of credit was conditional.
The parties in this case- question 2
The parties to this case are:
The British seller and the Belgian buyer because those two were in direct contact with each other throughout the negotiation process of this contract. While there was a 3rd party involved, S.A. Azur, they were not directly involved with any contract between the British seller and the Belgian buyer.
The plaintiff was the British buyer because it was the buyer who sued the Belgian buyer for loss of profit due to the breach of contract on part of the Belgian buyer by not providing the letter of credit as agreed upon.
The defendant is the Belgian buyer because it was the Belgian buyer who was being sued by the British buyer for a breach of contract and had to defend oneself against the accusations in
The problem in The Trans Trust Sprl v. Danubian Trading Co. Ltd. Case is if there is a contract or not between two parties. Also, whether a letter of credit is an essential part for forming a contract. In the case there is a buyer who is from Belgium and a seller who is from the United Kingdom. The British seller has arrange to buy the goods from a third party (American company). Furthermore, there was a stipulation between the parties requiring the buyer who is the defendant to deliver a letter of credit forthwith, however, he didn’t do so. The seller, who is the plaintiff, prompt the buyer to open a letter of credit as soon as possible. The seller required the letter of credit it in order to insure the American wholesaler that he will be paid. The buyer never opened a letter of credit. Subsequently, the seller started proceedings against the buyer, calming damages for breach of contract. The seller claimed that it was the buy’s duty to provide him with a letter of credit as soon as possible, buyer’s failure to do so constitute a breach of contract. According to the buyer there wasn’t a contract between them and he claimed that the letter of credit was conditional.
The parties in this case- question 2
The parties to this case are:
The British seller and the Belgian buyer because those two were in direct contact with each other throughout the negotiation process of this contract. While there was a 3rd party involved, S.A. Azur, they were not directly involved with any contract between the British seller and the Belgian buyer.
The plaintiff was the British buyer because it was the buyer who sued the Belgian buyer for loss of profit due to the breach of contract on part of the Belgian buyer by not providing the letter of credit as agreed upon.
The defendant is the Belgian buyer because it was the Belgian buyer who was being sued by the British buyer for a breach of contract and had to defend oneself against the accusations in