Brief of Case-International Chambr of Commerce

Brief of Case-International Chambr of Commerce - Brief of...

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Brief of Case-International Chamber of Commerce Facts of case: Plaintiff is the buyer in Yugoslavia. Defendant is the seller. The buyer contracted to buy 80,000 metric tons of steel bars at a price of 190 francs per ton with delivery to a Yugoslav port. The contract also provided the buyer with an option to buy additional 80,000 metric tons at the contract price. Shortly after three months, the buyer informed seller of his intention to exercise the option. Since the market price of steel had increased, the seller requested 215 francs per ton for the additional steel bars. As a result, the buyer chose to buy from another supplier at a price of 216 francs and brought suit for the different contract prices and the replacement price. Issues: Can the increased price of steel bars be one of the reasons resulting in a frustration of a contract? What types of damages should be covered? Holding: This is not a case of frustration of the contract due to the increased price. The buyer is entitled to recover the price of
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Brief of Case-International Chambr of Commerce - Brief of...

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