Addax Energy SA v Petro Trade Inc

Addax Energy SA v Petro Trade Inc

The court found that both the Gasoil Contract and the Term Agreement were binding contracts between Addax and Petro Trade, incorporating standard written terms by a consistent course of dealing. Risk passed to Petro Trade on delivery, and the sums claimed for unpaid petroleum products were due. The defences raised by Petro Trade were unsupported by evidence, contradicted by the parties' conduct, and rejected. Addax was entitled to judgment for the principal sums, interest at 8% per annum, and costs.

Parties
Claimant: Addax Energy SA; Defendant: Petro Trade Inc
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Commercial Claim (contract/enforcement) / Final Judgment After Trial, Default of Defence
Outcome
Judgment for the Claimant (Addax Energy SA) against the Defendant (Petro Trade Inc) for the full claim, with interest and costs.
Legal Topics
Sale of Goods, Course of Dealing, Jurisdiction Clauses, Interest on Late Payment, Storage and Release Agreements
Contract Law Commercial Law International Trade Sale of Goods Course of Dealing Jurisdiction Clauses Interest on Late Payment Storage and Release Agreements

Case Brief

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Parties

Addax Energy SA

Claimant

Petro Trade Inc

Defendant

Procedural Posture

Commercial Claim (contract/enforcement) / Final Judgment After Trial, Default of Defence

Legal Issues

  1. 1 Whether a binding Term Agreement was concluded between Addax and Petro Trade in January 2018 and evidenced in writing in November 2018
  2. 2 Whether the Gasoil Contract (September 2016) incorporated the written spot contract terms, including payment, risk, and jurisdiction clauses
  3. 3 Whether Petro Trade is liable for the unpaid invoices for petroleum products delivered and released under the contracts

Ratio Decidendi

The court found that both the Gasoil Contract and the Term Agreement were binding contracts between Addax and Petro Trade, incorporating standard written terms by a consistent course of dealing. Risk passed to Petro Trade on delivery, and the sums claimed for unpaid petroleum products were due. The defences raised by Petro Trade were unsupported by evidence, contradicted by the parties' conduct, and rejected. Addax was entitled to judgment for the principal sums, interest at 8% per annum, and costs.

Court Disposition

Judgment for the Claimant (Addax Energy SA) against the Defendant (Petro Trade Inc) for the full claim, with interest and costs.

Orders

  • Petro Trade Inc to pay Addax Energy SA the principal sum of $2,744,174.93 (comprising $515,273.01 under the Gasoil Contract and $2,228,901.92 under the Term Agreement)
  • Petro Trade Inc to pay interest at 8% per annum as calculated in the judgment ($95,856.36 on the Gasoil Contract and $460,185.84 on the Term Agreement to judgment date)