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BP Exploration (Libya) Ltd v Hunt [1983]

Facts

  • BP agreed to research Hunt’s land and build refineries, in return for half the profits once profitable under 125% of expenses had been reclaimed
  • The Libyan Government reclaimed the land, compensating Hunt

Issue

  • Could BP recover a just sum for the non-money resources which they had already put into the project under s 1(3) of the Law Reform (Frustrated Contracts) Act 1943?

Decision

  • Yes

Reasoning

  • Fair award
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