The Mihalis Angelos [1971]

Stipulation in voyage charterparty as to time at which
chartered vessel was expected to be ready to load
Court of Appeal held stipulation was condition.
Delay entitled other party to treat itself as
Megaw LJ:
Gave several justifications for decision, main one
being certainty. Especially important in commercial law.
‘Substantial advantages in having, where possible, a
firm and definite rule for a … definable type of contractual clause in common