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North Ocean Shipping Co. Ltd –v- Hyundai Construction Co. Ltd and Another

20th Jul 1979

[1979] 1 QB 705

Gavin Kealey – Contract – Validity – Duress – Contract to build ship – Devaluation of currency – Shipbuilders’ refusal to honour contract unless payments increased to lessen effect of devaluation – Owners’ agreement to demands under protest – Whether economic pressure amounting to duress – Whether consideration for increased payments