Significance
It was not stated anywhere in the case but there was much riding on this case as during this period the price of Russian softwood had skyrocketed. Arcos was likely trying to renege on the contract so he would not have to sell the 100,000 units at a loss.
Read more about this topic: Hillas & Co Ltd V Arcos Ltd
Famous quotes containing the word significance:
“The hypothesis I wish to advance is that ... the language of morality is in ... grave disorder.... What we possess, if this is true, are the fragments of a conceptual scheme, parts of which now lack those contexts from which their significance derived. We possess indeed simulacra of morality, we continue to use many of the key expressions. But we have—very largely if not entirely—lost our comprehension, both theoretical and practical, of morality.”
—Alasdair Chalmers MacIntyre (b. 1929)
“It is necessary not to be Christian to appreciate the beauty and significance of the life of Christ.”
—Henry David Thoreau (1817–1862)