Netherlands Corp. for Oversea Trade, Inc. v. Levant American Commercial Co.

Proskauer, J.:

Plaintiff contracted to buy sugar from the Federal Sugar Refining Company. Thereafter it made a contract with Cayrasso & Co. to sell the identical sugar. The contract provided “ Payment — Net cash payable on presentation of shipping documents.” Under the heading “ Conditions governing this purchase,” it also provided, ■“ Delivery complete on receipt of goods by the carrier.” Cayrasso in turn resold the sugar on an identical form of contract to Cosmos Commerce Corporation. Pursuant to instructions given by Cosmos Commerce Corporation to Cayrasso and in turn back through the…