Other
Sale of ship - Non-fulfulment of contractual obligation : [case review]
Vesna Skorupan
orcid.org/0000-0002-1591-7247
; Jadranski zavod HAZU, Zagreb, Hrvatska
Abstract
A buyer uses a ship whose possession he has taken through transfer of ship from the seller under a sale contract. Non-payment of a portion of the purchase price does not render the buyer's use of the ship unauthorized and illegal. The buyer has valid legal grounds
for the use of the ship (sale of the ship and transfer of the ship) and this has not discontinued as a result of non-payment of a portion of the purchase price.
The claimant is entitled to penalty interest due to delay in payment by the debtor. If the loss sustained by the claimant as a result of the debtor's delayed payment exceeds the amount of penalty interest, the creditor is entitled to the difference between such amount of penalty interest and full amount of the sustained loss.
Keywords
case review; sale of ship; sale contract;
Hrčak ID:
9947
URI
Publication date:
22.9.2005.
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