A Treatise On Maritime Law
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] COXTRACT OF AFFREIGHTMENT, BY CHARTER-PARTY. 139 substituted agreement arising from the alteration of the old one. ) the remedy of the owner is upon such substituted agreement. He cannot maintain covenant upon the old con- tract, which is merged in tlie parol agreement, and its generic character lost.^ 180. A parol agreement to rescind a sealed contract is not binding as an executory agreement, but valid and bind- ing when carried into effect. ^ After breach of a sealed con- tract, a right o...f action may be released or waived by a new parol contract.^ The rules respecting the execution and dis- charge of a sealed instrument are technical, and in most cases arbitrary ; but nevertheless they are adhered to by the courts of common law, and determine the rights of the par- ties. Hence it is important in transactions relating to a charter-party by deed, to observe carefully the legal formal i- ties necessary to their validity. It might perhaps be difficult to assign any satisfactory reason for the rule of the common law, that the performance of a charter-party under seal can- not be released or waived by parol, or by a written instru- ment not under seal, a rule that totally disregards the more recent expression of the will and wishes of the parties, simply because that will and those wishes are not evidenced by a wafer or a piece of wax.
What to read after A Treatise On Maritime Law?
You can find similar books in the "Read Also" column, or choose other free books by Henry Flanders to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
] COXTRACT OF AFFREIGHTMENT, BY CHARTER-PARTY. 139 substituted agreement arising from the alteration of the old one. ) the remedy of the owner is upon such substituted agreement. He cannot maintain covenant upon the old con- tract, which is merged in tlie parol agreement, and its generic character lost.^ 180. A parol agreement to rescind a sealed contract is not binding as an executory agreement, but valid and bind- ing when carried into effect. ^ After breach of a sealed con- tract, a right o...f action may be released or waived by a new parol contract.^ The rules respecting the execution and dis- charge of a sealed instrument are technical, and in most cases arbitrary ; but nevertheless they are adhered to by the courts of common law, and determine the rights of the par- ties. Hence it is important in transactions relating to a charter-party by deed, to observe carefully the legal formal i- ties necessary to their validity. It might perhaps be difficult to assign any satisfactory reason for the rule of the common law, that the performance of a charter-party under seal can- not be released or waived by parol, or by a written instru- ment not under seal, a rule that totally disregards the more recent expression of the will and wishes of the parties, simply because that will and those wishes are not evidenced by a wafer or a piece of wax.
What to read after A Treatise On Maritime Law?
You can find similar books in the "Read Also" column, or choose other free books by Henry Flanders to read onlineMoreLess
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