Overlap of Termination Terms and General Principles of Contracts: The Toba Trading Case

Abstract

A buyer company has an advance payment stuck with the seller company and acts cautiously in not paying further till getting control over the goods. Claiming this to be a breach, the seller terminates the contract and claims damages. The seller picks all legal points it could in the routine business practices to escape the unfortunate situation. The judgment in the Toba Trade Case gives a comprehensive view of several legal themes including, payment and delivery, variation of contract, termination, anticipatory breach, award of damages and unjust enrichment.