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The Mihalis Angelos [1970]

Facts

  • A charter party required that a ship should be ready by a particular date

Issue

  • Could the contract be discharged for a repudiatory breach when the ship was not ready on time?

Decision

  • Yes

Reasoning

  • Time being of the essence is important for certainty in contracts
  • If a party already in breach of a contract accepts the other party’s breach, damages will account for the claimant’s breach too
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