Couterier v Hastie (1856) 5 HL Cas 673

Material Facts:

The plaintiffs shipped corn from Salonica to England which was to be sold to the defendant and a contract was made to this effect. Unknown to the parties, the cargo had become so overheated that the corn had to be sold off to a third party before the conclusion of the contract between the plaintiff and defendant. The plaintiff contended that the defendant ought to bear the loss because they had bought the adventure and were now responsible for all the risk accruing from the delivery of the cargo.

Issues:

1. Whether or not the defendant was liable to pay for the corn.

Holding:

1. The defendant was not liable to pay for the corn.

Ratio Decidendi:

That the parties at the time of contracting contemplated the sale and purchase of existing goods, and since the goods were no longer in existence when the contract was concluded, then the buyers were not liable to pay for the goods.