Charter Party

[L. Lat. charta partita.] In mercantile law. A contract by which an entire ship, or some principal part thereof, is let to a merchant for the conveyance of goods on a determined voyage to one or more places.

Abbott on Ship. [241] 315.

A contract of affreightment in writing, by which the owner of a ship lets the whole or a part of her to a merchant, for the conveyance of goods on a particular voyage, in consideration of the payment of freight.

3 Kent's Com. 201.

Expressively called a mercantile lease of a ship.

Id. 302. See 2 Steph. Com. 184.

See Affreightment. A charter party contains stipulations by both parties as to the vessel and voyage, the cargo, and amount of freight to be paid, &c. It is signed by both, and is executed in parts, one being kept by each party. Its name (more clearly expressed by the Lat. charta partita, a deed divided, and probably immediately derived from the Fr. chartre parti,) has preserved a relic of the ancient practice of dividing indentures after execution into two parts, of which each party kept one.

3 Kent's Com. 201. Abbott on Ship. [241, 242,] 315, 316.

See Chirograph, Indenture. Hence it is called in the old books a pair of indentures.

Blount.