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A bill of sale is a document that transfers ownership of goods from one person to another. It is used in situations where the former owner transfers possession of the goods to a new owner. Bills of sale may be used in a wide variety of transactions: to sell goods, exchange, give, or mortgage objects.
To reduce the number of disputes and smoothen the sale and purchase procedure, normally the ship-owner (seller) and the buyer will appoint brokers as middlemen to handle the transaction. There are three main stages for the sale and purchase of a ship which include: (1) the negotiation and contract stage, (2) the inspections stage, and (3) the ...
The nationality allows a ship to travel internationally as it is proof of ownership of the vessel. [1] International law requires that every ship be registered in a country, called its flag state. [2] A ship is subject to the law of its flag state. [1] It is usual to say that the ship sails under the flag of the country of registration.
After the war Norman Wright built commercial boats such as trawlers, luggers, and vessels for the tourist resorts. During this period, the yard built boats for the Barrier Reef islands of Lindeman, South Molle, Orpheus, Magnetic and Hayman. By the 1950s, Norman Wright's sons had assumed responsibility for the day-to-day operation. [1]
In a bare-boat or demise charter, on the other hand, the owner gives possession of the ship to the charterer, and the charterer hires its own master and crew. The bare-boat charterer is sometimes called a "disponent owner". The giving up of possession of the ship by the owner is the defining characteristic of a bareboat or demise charter.
Due to a non-compete clause following the sale of Magnum Marine, Aronow was not permitted to build boats for several years. Despite this, in 1969 Aronow built the first Cigarette boat under the name Cary, in Elton Cary's Miami Beach facility. In 1969, Aronow won his second World Championship and third consecutive United States Championship.
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