Sale of Vessel – Implied terms as to satisfactory quality
Pursuant to a Memorandum of Agreement (“the MOA”) on the Norwegian Saleform 1993 (“Saleform 93”) the sellers agreed to sell the buyers a vessel [1]. Clause 11 of the MOA provides that “The Vessel shall be delivered and taken over as she was at the time of inspection, fair wear and tear excepted. However, the Vessel shall be delivered with her class maintained extended to 30 September 2009 without condition/recommendation, free of average damage affecting the Vessels class. The Vessel's continuous survey cycles of machinery are to be as per current machinery continuous status attached hereto (attached "A"). Her International, National, Class and Trading Certificates clean, valid until 30 September 2009, except ISSC and SMC to be valid at time of delivery only,” The buyers inspected the vessel and carried out an underwater survey (which revealed no bottom damage affecting class). They also, through their agents, inspected the class records. However, they failed to