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In our present situation, Degan Products Co entered into a CIF contract for the sale of 10 000 novelty spiderman pens with Hack Importers Co.
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(a) In our present situation, Degan Products Co entered into a CIF contract for the sale of 10 000 novelty spiderman pens with Hack Importers Co. CIF is one of the most popular of the trade terms used in international sale contracts where sea carriage is envisaged. In Ross T Smyth and Co Ltd v TD Bailey, Son and Co (1940)1, Lord Wright observed as 'a type of contract which is more widely and more frequently in use than any other contract used for purposes of sea-borne commerce. An enormous number of transactions, in value amounting to untold sums, are carried out under c.i.f contracts'. It have been judicially defined in a number of cases (see Ireland v Livingston (1871)2; Biddell Bros v Clemens Horst Co (1911)3). The best definition provided in modern times is perhaps that of Lord Atkinson in Johnson v Taylor Bros (1920)4, who described a c.i.f.contract as...
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