Measure of loss and the mitigation of damage. New guidance from the courts on when damages for breach of contract should be reduced to give credit for a benefit arising out of the breach

The “NEW FLAMENCO” was a small cruise ship built in Genoa in 1972. She was chartered to Globabia for a term due to end on 28 October 2007. The Owners and Charterers reached an oral agreement to extend the charter party term for a further two years so as to Read more…