Bear bottom salvage

He held that no right to rescind could be based on an error of law. In my view it is the right and equitable result of this case that the insurers should be entitled to avoid that agreement on the ground of mutual mistake in a fundamental and vital matter. Fifthly, there is a requirement which was not specifically discussed in Bell v. Lever Brothers and replace it with a more flexible principle of equity, or the equitable remedy of rescission that he identified is one that operates in a situation where the mistake is not of such a nature as to avoid the contract. At a closing speed of 19 knots, it would have taken them about 22 hours to meet. The cases where goods have perished at the time of sale, or belong to the buyer, are really contracts which are not void for mistake but are void by reason of an implied condition precedent, because the contract proceeded on the basic assumption that it was possible of performance. As part of that arrangement it was agreed that the MoD would grant permission for recovery of items from the site.
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Next Mr Reeder submitted that it was not legitimate for the Judge to have regard to the fact that the appellants did not want to cancel the agreement with the "Great Peace" until they knew whether they could get a nearer vessel to assist. The cases where goods have perished at the time of sale, or belong to the buyer, are really contracts which are not void for mistake but are void by reason of an implied condition precedent, because the contract proceeded on the basic assumption that it was possible of performance. Sir John Simon formulated for the assistance of your Lordships a proposition which should be recorded: Two cases where common mistake has been held to avoid the contract under common law call for special consideration. The authors of Meagher suggest, at paragraph that Cooper commenced the proceedings in the belief that the agreement failed in law, claiming only ancillary relief of delivery up of the agreement and an injunction restraining Phibbs from suing on it. And also upon the true meaning to be attached to "basis", a metaphor which may mislead.
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Lord Atkin, with whom Lord Thankerton agreed, considered at p. The court was faced with reasoning on the point in a previous decision of the Court of Appeal which was at odds with an earlier decision of the House of Lords. They did not want to cancel the agreement until they knew if they could find a nearer vessel to assist. As we have demonstrated, the terms imposed by the House of Lords in Cooper v. There are two decisions which bear on this question.
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