CHARTER-PARTY (Fr. eharte pantie, di vided deed, one part being given to each party concerned; cf. indmiture). In maritime law, a contract under seal by the owner or master of a ship. to carry a complete 'cargo of goods or to furnish a vessel or part of a vessel for that purpose. It is one form of the contract of affreightnumt (q.v.). the other being the familiar bill of lading (q.v.), which is employed when goods are shipped to form only a part of an in tended cargo. Such a charter may operate as a lease of the ship itself, which thereupon pasAes under the control of the charterer: or, more commonly, it confers upon the shipper the right to have his entire cargo conveyed in the char tered vessel, in which ease the charterer acquires no property right in the ship, nor any voice in its management. In the latter form of charter party the master or owner of the vessel occupies the position of a common carrier But where the charter transfers the possession and control of the ship, the master is the agent of the charterer, who becomes responsible for his acts and for those of the crew, and who, in the event of the chartered ship's earning salvage, becomes entitled to the salvage award.
The ordinary charter-party describes the par ties, the ship, and the voyage, stipulates that the ship is seaworthy, and will receive the cargo and perform the voyage promptly. and notes those perils of the sea for which the master and ship-owner will not be responsible. On the part of the freighter, it stipulates to load and unload within a given time, with an allowance of so many lay or running days for loading and un loading the cargo, and the rate and time of pay ment of the freightage, and date of commence ment of demurrage. Consult Scrutton. Contracts of iffreightment as Expressed in Charter Parties and Bills of Lading (4th ed., London, 1899).