CHARTERPARTY

charterparty. A contract by which a ship, or a principal part of it, is leased by the owner, esp. to a merchant for the conveyance of goods on a predetermined voyage to one or more places or for a specified period of time; a special contract between the shipowner and charterer, esp. for the carriage of goods at sea. — Often shortened to charter. — Also written charter-party; charter party. — Also termed charter agreement. [Cases: Shipping  37. C.J.S. Shipping §§ 76–77.]

“Charter partie (charta partita) is nothing but that which we call a paire of indentures, conteining the covenants and agreements made betweene merchants, or sea faring men touching their marine affaires.” John Cowell, The Interpreter (1607).

“The instrument by which a vessel is leased is a charter party. The term is derived from charta partita, i.e., a deed of writing divided; in earlier times the charta partita, like the indenture agreement, was prepared in two parts, the ship owner retaining one part and the charterer the other…. While a charter party need not be in writing, most charters today are detailed written documents drawn to accommodate the particular needs of shipper and carrier in a certain type of trade or commerce.” Frank L. Maraist, Admiralty in a Nutshell 44–45 (3d ed. 1996). [Blacks Law 8th]