Carriage of goods by sea summative assessment
1. The introduction of incorporation clause
The bill of lading under a charterparty is just a certificate of receipt for the charterer, the bill of lading is not to be seen as a contract of carriage of goods by sea due to the relationship between the shipowner and charterer under a charterparty. When the bill of lading issued by the shipowner is transferred to a third party by the charterer, the right-obligation relationship between the shipowner and the bill of lading indorsee will be effected by the international conventions that related to the bill of lading. And that means the terms governing the relationship between the shipowner and a bill of lading indorsee will be different from the terms originally agreed with the charterer, the shipowner will exposed to greater liability than he initially anticipated. Obviously, the shipowner does not want to see that happen. Under this circumstance, the shipowner always wonder that the terms of the charterparty can be carried through into the terms of bill of lading contracts. So whether it is a charterparty or a bill of lading, the liability of the shipowner would always be the same, and that led to the development of incorporation clause.
A common form of incorporation clause is:“all the terms, conditions, clause and exceptions as per charterparty.” or “all the terms, conditions, liberties and exceptions of the charterparty are herein incorporated.” or “All the terms whatsoever of the said contract/charter expect the rate and payment of freight specified therein apply to and govern the rights of the parties concerned in this shipment.”
Under the NYPE46 and NYPE93, the charterer, not the shipowner, has the right to choose the type o...
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...ed in the terms of the charterparty. This is particularly true in cases where the provisions of the Hague/Visby Rules become applicable after the bill has been indorsed to a third party.
Shipowners who wish to control over such extension of their liability may require any bill to be issued in the standard form designed for use with a particular charterparty. Or they may require the bill to include a clause specifically incorporating the terms of the charterparty.[ See supra pp 247 ff.] Such devices afford only limited protection for the shipowner and are more frequently replaced by clauses requiring the master to sign bills ‘as presented . . . without prejudice to this charter’.[ NYPE 1993 clause 30.]
Bibliography
J.F. Wilson, ‘Carriage of Goods by Sea’ (7th edn, Pearson Education Limited, 2010)
S. Baughen, ‘Shipping Law’ (4th edn, Routledge-Cavendish, 2009)
Those who are to benefit from the covenant in today’s law can now be referred to by some generic description a description of class for example the 'owners of Hudson' however they must be in existence when the covenant is made and they must also be identifiable moreover the covenant must clearly be intended to be made with them as well. The cases of (White v Bijou Mansions) (1937)4 and (Amsprop Trading v Harris Distribution) (1997)5 are examples which illustrate and support the view of the LPA 1925, s.56(1).... ... middle of paper ... ... Benefits of a covenant may also be subject to express assignment at common law as long as it is not a personal covenant; it must also be done in writing and notice must be given to the covenantor under s.136 LPA 19259.
Any stockholder signing the Letter of Transmittal “irrevocably and unconditionally releases, acquits and forever discharges” the Releasees from:
...ven law into legislation. If these steps were not taken, we would risk living in a world of oppression and injustice. Many have paid the ultimate price, granting us the opportunity to live in a nation where we pride ourselves upon the freedom we value so dearly. Thus, when reflecting back on our society and the value of living in a democratic environment, it seems rather obvious that the implementation of these Charter sections is a small price to pay for our free and equal culture.
Distinct legal entity separates from individuals who compose it, thus insulating the shareholder from personal liabilities. Generally, shareholders are not personally liable for corporate
The risk towards a cargo ship’s crew is ever-present with the occurrences of harsh weather and isolation from the mainland, but working on the lake is worth the hardships since current technology maintains connects with the mainland and the pay and benefits make the job well worth it. Research finds that people aboard ships will do many things to stave off the boredom and isolation that is presented while living on a cargo ship or freighter to keep their sanity. Of course one of the perks to get them through the hardships would be the great pay that they make as well as the benefits they receive. Also technology only continues to grow and make the Great Lakes just a tiny bit safer each year and this small step
...am R, Incompletely constituted trusts: Covenants to settle property (Equity & Trusts: Text, Cases, and Materials 2013).
The primary purpose of the “Statute of Frauds” (SOF) is to protect the interests of parties once they are involved in litigating a contract dispute (Spagnola, 2008). The relevant statutes are reliant upon state jurisdictions to determine whether the contract falls under the SOF, and whether the writing of the contract satisfies the requirements of the statute of frauds (Spagnola, 2008). However, all contracts are not covered under the SOF. In essence, for a contract to be deemed as legal by definition of the SOF, there must be verification of the following requirements for formation of the contract, which are as follows: (1) There must be least two parties to the contract, (2) There must be a mutual agreement and acceptance on the price to pay for goods and services offered, (3) The subject matter or reason for entering the contract, must be clearly understood by all parties to the contract, (4) and there must be a stipulated time for performance of duties under the contractual obligations (Spagnola, 2008). Lastly, there are five categories of contracts that are covered under the SOF, which are as follows: (1) The transfer of real property interests, (2) Contracts that are not performable within one year, (3) Contracts in consideration of marriage, (4) Surtees and guarantees (answering to the debt of another), and (5) Uniform Commercial Code (U.C.C.) provisions regarding the sale of goods or services, legally valued over five hundred dollars ($500.00) (Spagnola, 2008).
This particular statute allows for corporations and such to obtain several, but not all, constitutional rights as any person or persons. In particularly own property, sue and be sued under criminal and civil law, enter contests. Moreover, because corporations and such are considerate as “person”, business has the legal rights for its debts and damages. On the contrary, persons who are employed by a particular association are liable for their own misconduct and law-breaking while acting on behalf of a corporation. In addition, corporation has rights for its own actions, has rights such as: limited free speech and to advertise their product ("The Rights of Corporations," 2009). Likewise, businesses have the responsibility to elect a CEO, provide continuity; increase profits, social responsibilities, and manages recourses effectively (“Functions & Responsibilities of a Corporation").
Completely constituted trusts are segmented into executory and executed trusts. Executory trust is when a declaration or instrument requires the successive execution of further instruments while an executed trust is when the settlor has clearly and expressly stated what the interests of the beneficiaries are in the trust instrument. When a trust is not properly constituted, there will be no equitable proprietary interest for the beneficiaries. In such situations, the trust is enforceable under contract otherwise the beneficiaries are regarded as “volunteers”. A volunteer is a beneficiary who does not have valuable consideration for a promise or agreement for property to be transferred to him through trustees. Settlors must do everything within their power as necessary according to the nature of the property so that the settlement would be binding. There are three wa...
...mended that in determining whether in an individual case the term or notice was fair and reasonable, both substantive fairness (‘the substance and effect of the term’) and procedural fairness (‘the circumstances existing at that time’) be taken into account. (42)And additionally there are requirements that the contract must be written in ‘plain, intelligible language’ for a reasonable person would understand.
Formalities – if formalities are prescribed for the formation of the contract , they must be observed.
In modern days misconceptions between salvage and towage, have been the spark of ignition between shipowners and tugowners, especially since their relationship became contractual.
Finally I will state whether or not I agree with the given statement.cobd bdr sebdbdw orbd bdk inbd fobd bd. When a company receives a certificate of incorporation it has a 'separate legal personality'. In law the company becomes a legal person it its own right. The fundamental concept to become familiar with when starting up a business is the idea that the business has a legal personality in its own right, particularly when it assumes the form of a limited liability company. This essentially means that if one commences business as a limited liability company, then the corporation... ...
But, it might also be unreal to present a document without taking into account the commercial context in which it was drawn up. In an important decision, the House of Lords, moved away from the traditional approach, allowing some limited consideration of the commercial background when construing ambiguous words in a contract as Lord Wilberforce put it: 'The time has long passed when agreements, even those under seal, were isolated from the matrix of facts in which they were set and interpreted purely on the internal linguistic consideration'. Lord Wilberforce's concept of the 'factual matrix' is now invariably regarded as relevant when construing written contracts though as will be seen there is some tension between the contemporary trend towards ever greater use of contextual commercial material to decide the meaning of the contract and the opposing view, that the literal approach should prevail unless there are very good, precisely defined reasons for looking outside the text for interpretation.
While the voyage element is more apparent, the charterer has the discretion and disposal of the vessel for that period of time and specific similar to a time charter.