P.Chakravartti, C.J. - (1.) We have had some difficulty in following the appellant's argument in this appeal, because it did not conform too closely to what appeals to have been urged in the Court below, nor was its rather expanded end quite an expected sequel to the somewhat slender beginning. Nevertheless, we think we are now in possession of what exactly the appellant wishes to say.
(2.) The appellant is a private limited company, formed under the Companies Act of 1956, to take over the assets and liabilities of another company as also its outstanding contracts. It appears that some time ago the predecessor company obtained a lease of a considerable area of forest land in the North Andamans with a view to exploiting its timber. Andaman timber has hardly any local market and it, therefore, became necessary for the company to secure some means of transport for bringing the timber over to the mainland. For that purpose it chartered from time to time sea-going vessels. One such vessel was the "Eastern Venture", owned by Newland Steamship Co. Ltd. of Hongkong, which the predecessor company hired by a charter-party executed in London on 25-8-1954. The Charter-party was in the form of a Uniform Time Charter. The period covered by it was six months, with an option of another three months for the charter, but it appears that since the expiry of the original term, the charter-party has been renewed or its terms extended from time to time. Although the vessel appears to have changed hands at least twice and the period of the original charter-party also expired, as I have just stated, long ago, it is not disputed that terms and conditions of the deed of the 25-8-1954, have continued to be in force with one slight modification to which I shall presently refer.
(3.) We are concerned in this case only with the terms as to the payment of the hire. Clause 6 of the charter-party provided that the charterers were to pay as hire 16s. per ton on the vessel's dead weight of 5250 tons per 30 days. This payment of hire was to be made without discount every 30 days in advance and, according to Clause 6, it was to be made in cash in Calcutta. Somewhat inconsistently, the charter-party came to contain another provision in Clause 26 which said that the hire in accordance with Clause 6 was to be paid by telegraphic transfer to London. By an addendum inserted on 5-9-1955, the provision as to payment of the hire was again modified and it was agreed that payment would be made in cash in London or Hongkong.;