Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
Lms Integrated Mindtap Business Law, 1 Term (6 Months) Printed Access Card For Mann/roberts’ Smith And Roberson’s Business Law, 17th
17th Edition
ISBN: 9781337094566
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 11, Problem 21CP
Summary Introduction

Case summary:

Company T and state government F entered into annual contracts governing the salvage of ship A. Ship A sank in 1622 carrying a treasure of over $250 million. Both parties assumed that ship A lying on seabed under the land owned by state F. In right to salvage the lands, company T made a contract to give 25% of the items recovered in salvage to state F and delivered the artefacts as per contract. At last, court ruled that the sea bed over which ship A is resting is never owned by state F. Company T sued to annul the contract and recovered the artefacts it delivered to state F. 

To discuss: Should company T prevail.

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