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Charter-party |
Also found in: Wikipedia | 0.07 sec. |
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CHARTER-PARTY, contracts. A contract of affreightment in writing, by which
the owner of a ship or other vessel lets the whole, or a part of her, to a
merchant or other person for the conveyance of goods, on a particular
voyage, in consideration of the payment of freight. This term is derived
from the fact, that the contract which bears this name, was formerly written
on a card, and afterwards the card was cut into two parts from top to
bottom, and one part was delivered to each of the parties, which was
produced when required, and by this means counterfeits were prevented.
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