answer question

Learning Goal: I’m working on a business law presentation and need an explanation and answer to help me learn.

  • In January 2019, an international sales contract is concluded between Yannis Beef Co of Latvia and Yara Retailers Plc of Egypt. The contract calls for six instalments, each for: 10 tonnes of prime Latvian beef, EUR 200.000, CIF Abu Qir, INCOTERMS 2010. The times of shipment for all six instalments are fixed. Shipment of the first two instalments is to take place in March and May respectively. The contract of sale calls for the immediate opening of letter of credit facilities confirmed by Latvijas Banka, for the first two instalments. These are duly opened in conformity with the contract. Payment is to be against an invoice, a marine bill of lading, and an insurance policy issued by Lloyd’s of London. The contracts also specifically require Yannis Beef Co to arrange carriage under bills of lading to which the Hague-Visby Rules apply. The goods are shipped aboard MS Shakhti The bills of lading contain inter alia the following clause: “The carrier warrants that he will at all times keep the vessel registered with a recognised classification society. Production of a current certificate of class shall be conclusive evidence that the vessel is seaworthy.” The ship has such a certificate.

The beef is loaded into the refrigeration containers of MS Shakhti, where it is contaminated with residues of cargo previously carried, making the beef worthless. En-route to Egypt MS Shakhti picks up an SOS call from a nearby ship. MS Shakhti deviates from the permitted route to save life and property but finds that it does not have enough room to save the entire cargo of the sinking ship. The captain therefore decides to throw all the beef overboard under the belief that he would make a larger profit by saving the sinking cargo than by delivering the beef. Yara Retailers, is informed of this decision and contacts the confirming bank requesting the letter of credit not be honoured on the presentation of the requisite documents. The next day, Yannis presents conforming documents to the confirming bank.

  • Can the buyer or the seller hold the carrier liable for the loss of goods?
  • Assuming that confirming documents are presented to the conforming bank – what are the confirming bank’s obligations towards the buyer and the seller?
  • What are the advantages of using an irrevocable confirmed Letter of Credit in this scenario?
  • Would the Buyer be in a better position if a revocable Letter of Credit had been used?
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Papers Owl, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email:

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Papers Owl has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.


Essay Writing Services

At Papers Owl, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.

error: Content is protected !!