in Commerce, denotes the instrument of freightage, or articles of agreement for the hire of a vessel. See FREIGHT, &c.

The charterparty is to be in writing; and to be signed both by the proprietor or the master of the ship, and the merchant who freights it. It is to contain the name and the burden of the vessel; the names of the master and the freighter; the price or rate of freight; and the time of loading and unloading; and the other conditions agreed on. It is properly a deed, or policy, whereby the master or proprietor of the vessel engages to furnish immediately a tight found vessel, well equipped, caulked, and flopped, provided with anchors, sails, cordage, and all other furniture to make the voyage required, as equipage, hands, victuals, and other munitions; in consideration of a certain sum to be paid by the merchant for the freight. Lastly, the ship with all its furniture, and the cargo, are respectively subjected to the conditions of the charterparty. The charterparty differs from a bill of lading, in that the first is for the entire freight, or lading, and that both for going and returning; whereas the latter is only for a part of the freight, or at most only for the voyage one way.

Boyer says, the word is derived from hence, that *per medium charia incidebatur, et sic fiebat charia parititia*; because, in the time when notaries were less common, there was only one instrument made for both parties; they cut it in two, and gave each his portion; joining them together at their return, to know if each had done his part. This he observes to have been practised in his time; agreeable to the method of the Romans, who, in their stipulations, used to break a staff, each party retaining a moiety thereof as a mark.