September 1, 2025
WJ Alan & Company Ltd v El Nasr Export & Import Co [1972] EWCA Civ 12 (03 February 1972)
Coffee sellers accepted payment via a letter of credit in Sterling, despite the contract currency being Kenyan shillings. After Sterling was devalued, they claimed the shortfall. The court held they had permanently waived their right to the original currency by their conduct. Facts The sellers, W.J. Alan & Co. Ltd., contracted to sell coffee to the buyers, El Nasr Export & Import Co., an Egyptian state corporation. Two contracts from May 1967 stipulated the price as “Shs.262/-” per hundredweight (cwt), which was denominated in Kenyan shillings. Payment was to be made via an irrevocable letter of credit. The buyers opened
