How Did the Privy Council in the Eurymedon Overcome the Difficult

question 10

Multiple Choice

How did the Privy Council in The Eurymedon overcome the difficult question of consideration in order to hold that the stevedores could rely on the exemption clauses in the bill of lading?

• A) The bill of lading expressly provided that the stevedores could rely on the exemption clauses.
• B) As agents of the carrier who was party to the bill of lading, the stevedores did not need to provide consideration to benefit from the exemption clauses.
• C) A fiction of a 'collateral contract' between the shipper and stevedores was employed, under which the stevedores provided consideration.
• D) None of the options provided is correct.

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Definitions:

Protection

Measures or strategies implemented to safeguard against financial loss, damage, or other adverse effects.

Front-end Ratio

A financial ratio that compares a person’s gross monthly income to his or her monthly housing costs.

Housing Expenses

Costs associated with owning or renting a living space, including mortgage or rent, utility bills, property taxes, and maintenance fees.

APR

The Annual Percentage Rate, which reflects the cost of borrowing on a yearly basis and includes interest and other charges.