Michael as to his rights-liabilities under the cif contracts

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Reference no: EM132236317

Michael an Indonesian buyer bought 100 tonnes of wheat from Igor a Russian seller and 30 tonnes of oranges from Rahman, a Pakistani seller.Both contracts are CIF Tanjong Bunga.

Igor shipped the cargo of wheat on board the Venta who is also carrying 300 tonnes of wheat and delivers the bill of lading, shipping documents, invoices and insurance policies to Michael who has arranged payment through documentary credits upon presentation of documents arranged with Bank Negara Indonesia (BNI). Several days into the journey, the Venta was hit by an unusual storm and loss her cargo of wheat. Michael now has ordered BNI to stop payment although Igor is demanding that he be paid for the goods as he has done his duty as a CIF seller.

In the meantime, Michael has also also received the documents send by Rahman for the sale of the oranges and made payment via documentary credit which was also arranged through BNI. A week later, Hartono is dismayed to discover at the port that the oranges that Rahman sold to him are of the Ruby Red variety instead of Red Blood and wishes to reject the oranges and claim damages. Rahman however insisted that Michael's right to reject has expired when he accepted the documents tendered and made payment.

Advise Michael as to his rights and liabilities under the CIF contracts. break it down into issue,rule,application and conclusion.

Reference no: EM132236317

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