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:
“Politics is not an end, but a means. It is not a product, but a process. It is the art of government. Like other values it has its counterfeits. So much emphasis has been placed upon the false that the significance of the true has been obscured and politics has come to convey the meaning of crafty and cunning selfishness, instead of candid and sincere service.”
—Calvin Coolidge (1872–1933)