9911796707
TMI Blog2003 (7) TMI 157X X X X Extracts X X X X X X X X Extracts X X X X ..... is heavily damaged, No. 5 derricks is not in working condition and the vessel is in very poor condition therefore are not any of the exceptions specified in the original memorandum of agreement. As we have noted there were no provisions in that agreement for reduction in the price on that account. The first ground, that the generators are not according to the specifications and hence has no realisable value at all. is completely unsubstantiated. Of the four survey reports submitted by the surveyor of the ship, none points out that the generators are not in accordance with the specification. The statement that the generator has no realisable value at all obviously cannot be accepted. Even if it is true, that the generators were not accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essel are not according to the specifications as shown in the M.O.A. and hence it has no releasable value at all. 2. There is water leakages in the cargo compartment at the bottom and as such the plate of the bottom is heavily damaged. 3. No. 5 derricks which is not in the working condition. 4. The vessel is of very poor condition and has been laid up for a period of long time and therefore the plate of the vessel is very rusted and poor quality. 5In the bill. of entry that it filed for clearance of the goods, the importer indicated the lower value for the basis of assessment on 14-5-1990. The Assessing Officer however enhanced the value taking as the basis the price as originally agreed upon. The importer appealed this order. The Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... now arrived at. This is what we have said in our earlier orders. 8.The facts in this case do not justify the conclusion that what was delivered was different from what is agreed to be purchased and sold. The memorandum of agreement makes it clear in Clause 6 that "The buyers have accepted the vessel without inspection and the sale is, therefore, outright subject only to the terms, conditions and exceptions of this Agreement." Clause 11 also provides that the ship will be delivered on "as is where is" basis complete, substantially intact with everything on board including bronze working propeller and one steel alloy spare propeller. The full description of the ship contained in Clause 19 which sets forth the date on which it was built, its ..... X X X X Extracts X X X X X X X X Extracts X X X X
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