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CIVIL APPELLATE JURISDICTION: Civil Appeal No. 1868 of 1968. Appeal from the Judgment and Decree dated the 21st February 1968 of the Judicial Commissioner's Court at Goa, Daman and Diu in Appeal No. 3370 of 1964.

S.V. Gupte, Naunit Lal and (Miss) Lalita Kohli for the Appellant.

V.C. Mahajan and R.N. Sachthey for Respondents. The Judgment of the Court was delivered by BEG, J.--The Plaintiff-appellant Timblo Irmaos Ltd., (hereinafter referred to as 'the Company') had sued Jorge Anibal Matos Sequeira and his wife (hereinafter referred to as Sequeiras') for recovery Rs. 2,82,141/- claimed under a contract of 23rd January, 1954, and a sum of Rs. 1,14,700/-, claimed under another contract of 4th February, 1954. The Sequeiras counter-claimed Rs. 3 lakhs as price of 8000 tons of iron ore supplied to the Company; and pleaded that a sum of Rs. 1,13,000/-, advanced by the Company to the Se- queiras was to be adjusted after final determination of the amount due as price, of goods sold and supplied. The Sequeiras are holders of a mining concession. They, it was alleged, had entered into the two contracts, one of 23rd January, 1954, through their attorney, Ramesh Jethalal Thakker (hereinafter referred to as Thakker Junior), for supplying 8000 tons of iron ore, altered in some respects, by a later agreement, and the other of 4th February, 1954, alleged to be binding on the Sequeiras although entered into through Jethalal C. Thakker (hereinafter referred to as 'Thakker Senior'), the.father of R.J. Thakker. The most important clause in the contract of 23rd January, 1954, was that iron ore should be loaded in a ship 'Mary K' at Marmagoa, and that the loading must be done at the rate of 500 tons per 'weather working day" of 24 hours. Under the contract, the rate of demurrage for not loading the ship in time was to be paid at the rate of US $ 800.00 per day an pro rata for each fraction of a day. The buyer company was to pay what was called "despatch money" at half the rate of demurrage for time saved in loading. The payment was to be in the Portuguese Indian rupees at the exchange rate of Rs. 4.76 per US $. The buyers had also to make an initial payment of Rs. 55,000/- as soon, as delivery by load- ing began. The buyers were also to establish a Letter of Credit, before 27th January, 1954, in favour of the sellers, the Sequeiras, for the full value of the iron ore after deducting Rs. 55,000/- paid initially, and Rs. 1/4 per gross ton awaiting final settlement by presentation within ten days, at the bank named in the agreement, by presentation of the certificate of weight issued by the Master of the vessel. Certificates of the quality and specifications and of final weighment were to be sent by the buyers after the vessel's arrival at the port of dis- charge.