CHARTER-PARTY, noun In commerce, an agreement respecting the hire of a vessel and the freight. This is to be signed by the proprietor or master of the ship and by the merchant who hires or freights it. It must contain the name and burden of the vessel, the names of the master and freighter, the price or rate of the freight, the time of loading and unloading, and other stipulated conditions.
Source: Webster's 1828 American Dictionary ↗ · public-domain · returned verbatim, no AI