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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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DMC/SandT/15/08
'''England'''
'''ARBITRATION ACT 1996 S.69 APPEAL: BUNKER SUPPLY CONTRACT ON CREDIT TERMS: RETENTION OF TITLE CLAUSE: PARTIES CONTEMPLATED BUNKERS WOULD LIKELY BE CONSUMED BEFORE PAYMENT MADE AND TITLE PASSED: WHETHER SALE OF GOODS ACT 1979 APPLICABLE: WHETHER REQUIREMENTS OF S.49 MET'''
'''MoteNote: this judgment has now been confirmed by the Court of Appeal at [2015] EWCA Civ 1058''': [[http://www.onlinedmc.co.uk/index.php/PST_Energy_7_Shipping_v_OW_Bunker_Malta_%26_ING_Bank_-_the_RES_COGITANS]] and by the Supreme Court [[http://www.onlinedmc.co.uk/index.php/PST_Energy_7_Shipping_v_OW_Bunker_Malta_-_The_Res_Cogitans]]
'''Summary'''
(b) But even if the contract remains a “contract of sale”, a claim for the price may be maintained – via Section 49(2) of the Act - as payment being required a fixed period after delivery (on credit terms) was considered in the “Res Cogitans” (albeit obiter) as a price “payable on a day certain irrespective of delivery”.
