- letting of ship on a lay
- See letting of ship on shares.
Ballentine's law dictionary. Anderson, W.S.. 1998.
letting of ship on a lay
Look at other dictionaries:
letting of ship on shares — The transaction whereby the owner of a vessel lets her to the master who operates on shares or, as sometimes stated on a lay. The master is intrusted with entire possession and control, with the right to employ and navigate the vessel as he sees… … Ballentine's law dictionary
on a lay — A term characterizing the letting of a vessel to the master for operation on shares. 48 Am J1st Ship § 335 … Ballentine's law dictionary
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