Behind the dull-sounding "contract theory" for which the two were recognised lies an important truth: that when people want to work together, individual self-interest must be kept under control.

If payment of any sum payable under the contract is delayed, the Contractor shall be entitled to receive interest on the amount unpaid during the period of delay.

The insurer under a contract of marine insurance has an insurable interest in his risk, and may re-insure in respect of it.