Beg, J. - (1.) 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 of Rs. 2,82,141/-, claimed under a contract of 23rd January, 1954, and a sum of Rupees 1,14,700/-, claimed under another contract of 4th February, 1964. The Sequeiras counterclaimed Rs. 3 lakhs as price of 8000 tons of iron ore supplied to the Company:and pleaded that a sum of Rupees 1,13,000/- advanced by the Company to the Sequeiras was to be adjusted after final determination of the amount due as price of goods sold and supplied.
(2.) 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 Thakkar (hereinafter referred to as Thakkar 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. Thakkar (hereinafter referred to as "Thakkar Senior), the father of R. J. Thakker. The most important clause in the contract of 23-1-1954, 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 $ 900.00 per day and 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 Portugese Indian rupees at the exchange rate Rs. 4.76 per US $. The buyers had also to make an initial payment of Rs. 55,000/- as soon as delivery by loading 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 discharge.
(3.) The second agreement of 4th February, 1954, relates to loading of 6000 to 9000 tons of iron ore of given quality and specifications in the ship Mary K at the minimum rate of 500 tons per day commencing delivery within 24 hours of the buyer notifying the requirements to the seller. It also contained other stipulations similar to those of the first one. The important point to note about this agreement is that it is signed by Jethalal C. Thakker as the attorney of his son Ramesh Jethalal Thakker.;