CHARTER-PARTY

(Fr. parti, rfmrferf.) In Mercantile Law, is defined to be a contract, by which the owner or master of a ship hires or lets the whole or a principal part of it to a freighter for the conveyance of goods, under certain specified conditions, on a determined voyage to one or more places. A charter-party is generally under seal; but a printed or written instrument signed by the parties, called a memorandum of a charter-party, is binding if no charter-party be executed. A voyage may be performed in part under a charter-party, and in part under a parol agreement; but the terms of a charterparty cannot be altered by parol evidence, although thev may be explained by mercantile usage. The instrument expre es the freight to be paid, and generally, but not nece arily, the burden of the ship; together with some usual covenants, and others at the discretion of the parties. [s. 228]