Keen readers of this column will recall my bafflement at the Court of Appeal’s decision in Rainy Sky SA v Kookmin Bank. An (as it seemed) routine call on an advance payment bond was denied on the basis of one word – “such“. The word had been carelessly inserted into a clause of the bond, presumably with little thought on either side as to its meaning and effect. Adopting the restrained and temperate language that is my hallmark on such occasions, I described it as “ludicrous” and defying business common sense. I even evoked the most damming insult of all – “with respect”. I concluded by wondering if the Supreme Court would be allowed the last word on the subject.
