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.

Question

Want to see the full answer?

Answer 1

Question

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Please answer question 3. Provide in-text citations and references within 2019-2025. the company is a solar company

accreditation. Thato had to work with international bodies, adding complexity and expense to her operations. Despite these challenges, Thato capitalized on the strengths of the entrepreneurial environment. She formed partnerships with local agricultural cooperatives and NGOs, enabling her to access shared resources, knowledge, and training programs. She also collaborated with the government to participate in a public-private initiative promoting sustainable farming, which provided her with a modest grant. Thato leveraged digital platforms to connect directly with customers, eliminating intermediaries and offering competitive pricing. Her ability to innovate and adapt proved critical in sustaining her business, even during economic disruptions caused by the COVID-19 pandemic. By the end of 2023, Savannah Organics had expanded its operations to 15 hectares, supplying produce to supermarkets across the country and partnering with health-focused restaurants. Thato's journey highlights both…

Case Study: Savannah Organics In the fast-developing economy of Botswana, a young entrepreneur, Thato Dlamini, decided to venture into organic agriculture. Inspired by the growing global demand for organic produce, Thato founded Savannah Organics in 2019, aiming to supply pesticide-free fruits and vegetables to urban markets. The company started with a modest 5-hectare plot on the outskirts of Gaborone. Despite its potential, Savannah Organics faced significant challenges linked to the entrepreneurial environment. Access to funding was one of the primary obstacles. Thato struggled to secure a bank loan, as the financial institutions required collateral far beyond her means. Her attempt to raise funds through grants was equally difficult, with bureaucracy and lack of clear guidance delaying her applications. Another challenge was the lack of supportive infrastructure. Irrigation systems and farm equipment were either unavailable locally or prohibitively expensive, forcing Thato to…