PART-OWNERS, law, persons who, without being partners. hold undivided shares of personal property. Their respective rights and interests differ greatly from those of partners; one cannot bind the others as their agent; but if there he such agency and authority to act for the other part-owners, it must be created in some other way; nor can it exist, nor its existence be inferred, from the fact of part-ownership. A part-owner can affect only his own undivided share of the property; he cannot plaecan ineumbrance on the whole, or assign or dispose of the whole. The term part-ownership is ordinarily and almost exclusively applied to ownership in vessels. It is common for a vessel to he held by a number of persons, not as partners, but as part-owners. The vessel, in that case, is supposed to be divided-into a number of equal shares. The various part-owners; manage the vessel by, and delegate their interests to, a number of agents, of whom the principal are the ship's husband and the master. These officers have a wide authority
under the maritime law to bind their principals in certain contracts. Thus the master can make contracts for supplies, uses, and repairs, when the ship is abroad; and if neces sary may borrow money on the credit of the part-owners, or procure it by bottomry, or by a pledge of the cargo. As long as he acts within the scope of his authority the part owners will be liable; and the ship itself is liable as a rule. The ship's husband is gen erally himself a part-owner. He is the agent of the owners to make repairs, and gen erally attend to the equipment and management of the ship. A majority of the part owners have the right to use the ship for a particular voyage, against the will of the minority; but they must secure the latter, to the amount of their shares, against loss.