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The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
The sale and purchase of ship is an important aspect of the shipping industry. It may involve large amounts of money and requires brokers to possess knowledge of types of vessels and their function, knowledge of maritime law, as well experience in bargaining .
The company received a government contract for 3000 boats in 1957. Inspectors expecting a payoff began rejecting boats the company made when they received no compensation. At the end of the year, Correct Craft had delivered 2,200 approved boats but had 600 rejects on hand. The chief inspector returned 40 of the previously accepted boats.
The National Maritime Museum in Greenwich has a bill of sale for the transaction (NMM MS GRN 14). She was designed by the noted naval architect Bernard Waymouth (1824–1890). Waymouth went on to design the Leander (1867) and the Thermopylae (1868). He also served as Lloyd's Register's senior surveyor for London. [1]
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Since the purchase of the boat was funded by the sale of Christmas Seals, she was renamed MV Christmas Seal. From 1947 the vessel sailed to isolated outports on the coast of Newfoundland, screening residents for tuberculosis (TB), which was a leading cause of death on the island. [5]
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