JUDGEMENT
JONES DOTSE JSC:
This is an appeal by the defendants/appellants/appellants, hereafter referred to as the Defendants against the judgment of the Court of Appeal, dated 11th March 2010, which also dismissed an earlier appeal filed by the Defendants against the decision of the High Court dated 15th August 2008 in favour of the Plaintiffs/Respondents/Respondents hereinafter referred to as Plaintiffs.
The defendants it must be noted lost the action at the High Court and although lost again at the Court of Appeal, had a significant part of the awards reduced downward in their favour.
BRIEF FACTS:-
The plaintiffs herein won a tender to supply 600,000 litres of “marine mix” to the defendants for the manufacture of pre-mix fuel for use by outboard motors.
The contract document was tendered and marked as exhibit A and is dated 22nd August, 2002. It is significant to note that the contract price for a litre of the marine mix was denominated in Euro and was quoted at €1.63 per litre, whilst G…