Description

About the Event

For the sale of goods such as commodities, it has been for decades almost an article of faith that damages for non-delivery and non-acceptance should be based on the difference between the contract price and the market price prevailing on the performance date. Collateral transactions, such as prior sales and resales are not taken into consideration. But default clauses in commodities forms depart to a degree from this approach to damages that seems suited to the realities of commodities trading. In addition, as attention is more and more placed on the compensatory role of damages, we are seeing a shift away from the market rule. But what are the benefits of the market rule and is compensation the only role for damages to play? And where does mitigation of damages fit into the picture?

About the Keynote Speaker

Having obtained his LLB and LLM degrees from the London School of Economics, Michael Bridge started his academic career at the Universities of Leicester and Leeds before moving to Canada, where he held the position of Professor of Law at McGill University, Montreal. On his return to England, he was the Hind Professor of Commercial Law at the University of Nottingham, and Head of the Law Department for several years, later the Professor of Commercial Law at UCL, where he was also Executive Dean of the Faculty of Laws. Subsequently, he became the Cassel Professor of Commercial Law at the London School of Economics before acquiring Emeritus status in 2017. He is an Emeritus Professor at the Faculty of Law, NUS. He is a Bencher of the Middle Temple, Honorary King’s Counsel and a Fellow of the British Academy. Michael is best known for his work on domestic and international sales law and personal property, being the General Editor of Benjamin’s Sale of Goods 12th edn (Sweet & Maxwell, 2024), and author of two well-known treatises published by Oxford University Press, The International Sale of Goods 5th edn (2023) and The Sale of Goods 4th edn (2019).