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PST Energy 7 Shipping & Product Shipping and Trading v OW Bunker Malta & ING Bank the Res Cognitans
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3. The “Res Cogitans” indicates that the Court hearing appeals on points of law from an arbitration award may determine facts not determined by the Tribunal, if those facts are necessary to decide the points of law before the Court. See paragraph 49 of the judgment.
Fn.1 The right to payment was assigned by OW Bunker Malta to ING Bank NV, and notice of
assignment was duly given to the debtor. For the purposes of this note, OW Bunker Malta and
ING Bank NV are one and the same.
Fn.2 S.49. Action for price.
(1) Where, under a contract of sale, the property in the goods has passed to the buyer and he
wrongfully neglects or refuses to pay for the goods according to the terms of the contract, the
seller may maintain an action against him for the price of the goods.
(2) Where, under a contract of sale, the price is payable on a day certain irrespective of
delivery and the buyer wrongfully neglects or refuses to pay such price, the seller may maintain an action for the price, although the property in the goods has not passed and the goods have not been appropriated to the contract….
Fn.3 S.25(1)
Where a person having bought or agreed to buy goods obtains, with the consent of the seller, possession of the goods or the documents of title to the goods, the delivery or transfer by that person, or by a mercantile agent acting for him, of the goods or documents of title, under any sale, pledge, or other disposition thereof, to any person receiving the same in good faith and without notice of any lien or other right of the original seller in respect of the goods, has the same effect as if the person making the delivery or transfer were a mercantile agent in possession of the goods or documents of title with the consent of the owner.
