In the recent decision of Transfield Shipping Inc v Mercator Shipping Inc (The Achilleas) [2009] 1 AC 61 (9 July 2008), the UK House of Lords unanimously overturned previous case law to hold that liability for damages in contract must be founded on the intention of the parties, and within the scope of loss objectively contemplated at the time of entering into the contract.
Norton Rose Fulbright Australia