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Shipping Law

Basic Principles of Contract Law

QuestionAnswer
What are the essential elements of a Simple Contract? 1. The Offer, 2. Duration of Offer, 3. Acceptance, 4. Consideration, 5. Promissory Estoppel, 6. Legality, 7. Other Elements, 8. Formalities, 9.Privity of Contract
How may contractual terms be implied? Explain both. In Fact & In law
What remedies exist for breach of contract?
Name 5 terms which are said to be fundamental to a shipping contract and constitute a breach which can lead to terminate the contract? 1. That the ship is fully classed. 2. That the ship is to proceed on a voyage without deviation. 3. That the ship is 'expected ready to load' by a certain date. 4. The ships flag in wartime. 5. That no dangerous or unlawful goods are to be shipped.
Name 4 terms which are said to be treated as 'innominate terms' when discussing breach of Contract? 1. A term as to seaworthiness 2. A term as to the ships carrying capacity. 3. A term as to speed and consumption. 4. A term as to the type of cargo to be loaded.
Explain exclusion clauses. An exclusion clause is where one party to the contract has incorporated a term in the contract which purports to exclude his liability for his own breach of the contract.
Explain a 'Frustrated Contract' The contract is said to be frustrated where it becomes impossible to perform by an outside intervening event which was not possible to foresee when the contract was formed and which was not the fault of either party.
Name the six 'Vitiating Factors' which make a contract invalid or ineffectual? 1. Duress and undue Influence 2. Incapacity 3. Unenforceable contracts 4. Force Majeure 5. Void and Illegal Contracts 6. Mistake
Name the first five sections of a Gencon voyage charterparty. 1. Ship Broker 2. Place and Date 3. Owners 4. Charterers 5. Vessels Name
Name sections 6-10 of a Gencon voyage charterparty. 6. GT/ NT 7. DWT all told on summer load lines in Metric tonnes 8. Present Position 9. Expected ready to load 10. Loading port or place
Name sections 11-15 of a Gencon voyage charterparty. 11. Discharging port or place 12. Cargo 13. Freight rate 14. Freight payment 15. Vessels cargo handling gear
Name sections 16-20 of a Gencon voyage charterparty. 16. Laytime – loading/ discharging 17. Shippers/ Place of Business 18. Agents - Loading 19. Agents – Discharging 20. Demurrage rate
Name sections 21-26 of a Gencon voyage Charterparty. 21. Cancelling date 22. General average 23. Freight Tax 24. Brokerage commission 25. Law and Arbitration 26. Additional Clauses
What are clauses 2-5 in the Gencon Voyage Charterparty. 2. Owners Responsibility Clause 3. Deviation Clause 4. Payment of Freight 5. Loading/ Discharging
What are clauses 6-10 in the Gencon Voyage Charterparty. 6. Laytime 7. Demurrage 8. Lien Clause 9. Cancelling Clause 10. Bill of Lading
What are clauses 11-15 in the Gencon Voyage Charterparty. 11. Both To Blame Collusion Clause 12. General Average and New Jason Clause 13. Taxes and Dues Clause 14. Agency 15. Brokerage
What are clauses 16-20 in the Gencon Voyage Charterparty. 16. General Strike Clause 17. War Risks 18. General Ice Clause 19. Law and Arbitration
Created by: AndyNZ