In the Matter of the Diverted Cargoes (Greece v. Great Britain).

Abstract

International Law — Relation to Municipal Law — Application in Arbitration of International Law to Exclusion of Municipal Law of Either Party.

Treaties — Interpretation of — Principles and Rules of — Principle of Good Faith — Intention of the Parties — Consideration of Object of the Agreement — Circumstances in which Agreement Concluded — Principle of Effectiveness — “Clear and Unambiguous Clauses”.

Arbitration — In General — Law Applied by Arbitral Tribunals — Arbitration of Dispute Arising out of an International Agreement between States — Application of International Law to Exclusion of Municipal Law of Either Party — Rules of Interpretation of the Agreement — Principle of Good Faith — Intention of the Parties — Consideration of Object of the Agreement — Circumstances in which it was Concluded — Principle of Effectiveness — “Clear and Unambiguous Clauses” — Burden of Proof — Choice of Money of Contract — Effect of Devaluation of Currency — Difference between Function of Currency as Medium of Payment and as Measure of Debt — Choice of Money of Account — Rate of Exchange — Whether to be Taken as at Date when Debt Arose or at Date of Settlement.