The titan sails

Assignment Help Business Law and Ethics
Reference no: EM13145601

You may recall this transaction. On May 14, 2012 Arctic Appliances and Sun Mi, Inc. enter into a C.I.F. Lon Rie (a country in Southeast Asia) contract for the sale of 1000 refrigerators at a price of $623 each with payment to be made by letter of credit, choice of Lon Rie law and a delivery date of August 10, 2012, Arctic Appliances contracts with a carrier, World Transit, to ship the goods on June, 28. 2012 from the port of Philadelphia through the Panama Canal to Lon Rie. The refrigerators, packed eight to a pallet, are loaded onto the S.S. Titan on June 27, 2012 and the carrier issues a clean, on-board bill of lading for 1000 refrigerators shipped on 125 pallets marked Arctic Appliances Deluxe refrigerators. 
The Titan sails for the Panama Canal on June 28. On the fourth day, as the Titan approaches the Canal, terrorists detonate bombs causing such extensive damage that the Canal is not navigable. Reports indicate that the Canal should reopen within a week. Rather than make the lengthy and dangerous trip around Cape Horn, the Titan decides to wait in the Caribbean until the Canal is reopened. By July 12, it is clear that the Canal will not reopen until late July. On July 15, the Titan sets sail for Cape Horn. The ship encounters winter storms around the cape, hits a small iceberg and takes on some water. The damage is minor and after a slight delay the Titan continues on its journey. The ship arrives in Lon Rie on August 15, 2012. 
Sun Mi eagerly awaits the goods because on July 5, 2012, it entered into a contract with Sonatu for the sale of 50 refrigerators with delivery set for August 12, 2012. When Sun Mi surrenders the bill of lading, it receives 124 pallets of refrigerators, 10 of those pallets are water damaged. 
Because of the missing refrigerators and water damage to 80 refrigerators after loading onto the ship, Sun Mi tried to recover the $54,824 value of the destroyed refrigerators from the carrier, Titan. Titan denied responsibility for the loss and argued that even if it were liable, the law does not obligate it to pay $54,824 for the loss. Decide, thoroughly discussing the arguments of both parties. 
5. Fleur, a French company, promised to buy 15,000 gallons of maple syrup from Quebec Enterprises, Ltd., in Canada under a C.I.F. Le Havre, France contract. Payment was to be made by an irrevocable, confirmed letter of credit upon delivery of a clean, on hoard bill of lading, a certificate of inspection and all the usual export documents. Quebec Enterprises delivered the required documents to the confirming bank in Montreal, Quebec. The inspection certificate stated that "based on a sample taken from five gallons, the maple syrup is of the kind ordered.- The bill of lading had a notation on it that the goods had been partially destroyed by water leakage after they were loaded on board the ship. Should the confirming bank pay the seller on the letter of credit? Could the bank successfully argue that the certificate, on its face, was insufficient to certify the entire order?

Reference no: EM13145601

Questions Cloud

Double-spaced in times-times new roman : Write a 2-3 page paper, double-spaced in Times, Times New Roman or Ariel 12-point font, with 1" margins that addresses these questions:  Can you identify which theory of life's origin is "true"? By what basis do you make your decision?
Freedom in wild geese : Discuss the theme of freedom in The Wild Geese.  Be sure you comment on the situations of Otama and Suezo's wife Otsune. What is the significance of the image of "wild geese" in the novel?
District''s interest in minimizing the risk : We conclude that the District's interest in minimizing the risk of injury to its employees outweighs the plaintiff's privacy interests. Therefore, the drug test which resulted in plaintiff's termination was constitutionally valid.
Writing persuasive messages : The best way to approach writing any type of business message is to use a three-step process that includes planning, writing, and revising. Explain which strategies in each of these three steps we can apply when writing persuasive messages in particu..
The titan sails : The Titan sails for the Panama Canal on June 28. On the fourth day, as the Titan approaches the Canal, terrorists detonate bombs causing such extensive damage that the Canal is not navigable
Analyze a business ethics problem : You will analyze why the event is an “ethical” issue, not just a professional or engineering problem. You should also analyze the impediments to recognizing the ethical nature of the issue in the situation. Were there examples of any of the forms of ..
Largest high school poetry slam : The video I watched for this extra credit assignment is a documentary about the largest high school poetry slam in the world called Louder than a Bomb! This documentary video showed participants and their stories, and participants preparing for this ..
Health promotion-personal career advancement : Research and select the next program you would consider in 'Health Promotion' for your personal career advancement. List as many details about what you have found as possible
Gender differences way they were born : I need to write 10-12  page  RESEARCH essay on topic: gender differences (between men and women) way they were born, and ways they differ in their behaviors and communications. It is a research paper that includes the followings:

Reviews

Write a Review

 

Business Law and Ethics Questions & Answers

  Explain bill of rights privacy and legal unethical activitie

Explain Bill of Rights Privacy and Legal Unethical Activities and Are there any situations in business that are legal but unethical

  Moral development by cultural values of the organisation

Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the cultural values of the organisation for which you work? Explain"

  Explain making donations

Explain Making Donations and Before taking off on a cruise, the Shreks put their silver, jewelry and a wallet containing their credit cards in bags and stored them in their attic

  Test learners

Mr Rushton claimed that the three men conspired to -dupe- the auditor in relation to the transfer of risk. The auditor, he said, would not have signed FAI's 1998 accounts if he had known of the true nature of the -reinsurance- arrangement.

  Bob''s brother steve

Bob's brother Steve planned to visit over the Labor Day weekend. The two brothers planned to build a deck in Bob's back yard that weekend.

  Explain piercing the corporate veil

Explain Piercing the corporate veil and Discuss three factors that a court will use in determining whether to pierce the corporate veil

  Prepare a memorandum of business operations

International Sale of Goods state which party should prevail in the arbitration, the amount that such party shall be awarded, if any, and the reasons for the decision.

  Explain harold and henry''s hammer company

Explain Harold and Henry's Hammer Company and Harold was an independent contractor who sold different types of the best metal in the state

  Bill is a student at aloha university

Bill is a student at Aloha University and like any student needs to get cash quickly. He took a photograph of Aloha's head cheerleader Marla

  Explain state the legal issue and legal rule

Explain State the legal issue and legal rule and analysis of three case studies and Discuss the correctness of the contentions of Packer's executor

  Explain employment law case analysis - wright vs beverely

Explain Employment Law Case Analysis - Wright vs Beverely and When you look up the case online, the easiest way is to type the individual plaintiff

  Eagle sales company

Eagle Sales Company owns a warehouse, subject to a mortgage get from First National Bank.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd