J. Ray McDermott & Co. v. The Vessel Morning Star

COLEMAN, Circuit Judge:

This appeal presents a contractual Humpty Dumpty which no court could ever put together again. By failing in advance to protect themselves from the consequences of serious errors of judgment, the litigants have taken costly falls from a wall of their own making. They have repaired to the courts for succor, but there are situations which no court can cure. Adding to the pain of past misfortunes, we are compelled to reverse the judgment of the court below and to remand the litigation for a new trial.

I

BACKGROUND

J. Ray McDermott and Company, Inc., hereinafter referred to as…