demise charter party
Defined in 1 dictionary — Case Law
Definitions from Case Law
United States Supreme Court
To create a demise the owner of the vessel must completely and exclusively relinquish 'possession, command, and navigation' thereof to the demisee. It is therefore tantamount to, though just short of, an outright transfer of ownership. However, anything short of such a complete transfer is a time or voyage charter party or not a charter party at all.
Defined by the Supreme Court in - Guzman v. Pichirilo, 369 U.S. 698 (1962).