President of India v Lips Maritime Corporation: Difference between revisions

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The House revisited the topic in {{Cite|President of India|Lips Maritime Corporation|1988|AC|395}}, where a claim for a [[currency exchange]] ([[The Lips|The "'''Lips'''"]]) loss through late payment of [[demurrage]] failed on the straightforward basis that [[demurrage]] is [[liquidated damages]], and the law knows no such thing as a claim for damages for failing to pay damages.  
The House revisited the topic in {{Cite|President of India|Lips Maritime Corporation|1988|AC|395}}, where a claim for a [[currency exchange]] ([[The Lips|The '''Lips''']]) loss through late payment of [[demurrage]] failed on the straightforward basis that [[demurrage]] is [[liquidated damages]], and the law knows no such thing as a claim for damages for failing to pay damages.  


Claims to recover [[currency exchange]] losses as damages for [[breach of contract]], whether the breach relied on is late payment of a debt or any other breach, are subject to the same rules as apply to claims for damages for breach of contract" (ie ordinary [[remoteness of damage]] and [[causation]] principles)
Claims to recover [[currency exchange]] losses as damages for [[breach of contract]], whether the breach relied on is late payment of a debt or any other breach, are subject to the same rules as apply to claims for damages for breach of contract" (ie ordinary [[remoteness of damage]] and [[causation]] principles)

Revision as of 15:59, 9 January 2019

The House revisited the topic in President of India v Lips Maritime Corporation [1988] AC 395, where a claim for a currency exchange (The “Lips) loss through late payment of demurrage failed on the straightforward basis that demurrage is liquidated damages, and the law knows no such thing as a claim for damages for failing to pay damages.

Claims to recover currency exchange losses as damages for breach of contract, whether the breach relied on is late payment of a debt or any other breach, are subject to the same rules as apply to claims for damages for breach of contract" (ie ordinary remoteness of damage and causation principles)

See also