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North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd
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North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd : ウィキペディア英語版
North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd

''North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd'' () QB 705 is an English contract law case relating to duress.
==Facts==
Hyundai were shipbuilders. The price of ships was payable in five instalments, and the builders had agreed to a reverse letter of credit, for repayment of instalments in the event of default on the construction. After the first instalment was paid for a ship called the ''Atlantic Baron'', the US dollar was devalued. Hyundai said they would not deliver unless the price went up ten per cent. North Ocean was worried they would lose a favourable charter with Shell. They said they would pay the extra money in a telex on 28 June 1973 because they wished ‘to maintain an amicable relationship and without prejudice to our rights.’ North Ocean also asked for the letter of credit to contain a corresponding increase and this was done.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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