National American Corp. v. Federal Republic of Nigeria and Central Bank of Nigeria

Because my understanding of the law of reformation differs markedly from that of my colleagues, I must dissent.

*326Although the facts are somewhat complicated, they resolve themselves into a simple legal issue. The parties entered into written settlement agreements providing for payment of demurrage and cargo on twelve ships. The defendants believed that all twelve had reached Nigerian waters when in fact six of them had never sailed. Defendants’ mistaken belief was either induced or shared by the plaintiff. Under such circumstances, can the written agreements be reformed by reducing defendants’…