Procedures and Obligations in Documentary Sales

Understanding Documentary Sales

1. Describe the procedures of a documentary sale with particular reference to the rights and obligations of all stakeholders involved. 

2. Critically assess the scenario where a seller under a CIF (Cost, Insurance and Freight) documentary sale has failed to subscribe to an insurance policy and he or she intends to file an action against the freight forwarder and the carrier for his stolen cargo.

3. Evaluate the decisions of the relevant court in terms of its implicants to international trade law in one of the following cases

i) Biddell Brothers v. E. Clemens Horst Co. (1911) (1911) 1 King’s Bench 934; or

ii) St. Paul Guardian Insurance Co. v. Neuromed Medical Systems & Support (2002) S.D.N.Y