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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 .
1950s postcard of Islander at Woods Hole. It was built in 1950 by Maryland Drydock Company and was a ferry for the Woods Hole, Martha's Vineyard and Nantucket Steamship Authority, primarily on the Martha's Vineyard run, until March 5, 2007, when it was replaced with the new M/V Island Home, a new ferry which is both larger and faster than the "Islander".
In general, a bill of lading serves as a legal instrument focusing on and documenting such issues as ownership, whereas a cargo manifest is often more concerned with physical aspects of the cargo, such as weight and size. When the cargo is being shipped by several different shipping companies on the same vessel, there will usually be separate ...
In a ship mortgage or ship hypothec (civil law term, covering also a maritime lien), a shipowner gives a lender (or mortgagee) a security interest in a ship as collateral for a mortgage loan.
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