Joseph Walton, 1911 Encyclopædia Britannica, Volume 1… (1911)
“ The charterer receives the bill of lading freight and pays the charter-party freight, his object being of course to obtain a total bill of lading freight in excess of the chartered freight, and so make a profit. The master, although he usually remains the servant of the shipowner during the term of the charter-party, acts nevertheless under the directions and on behalf of the charterer in signing bills of lading. ”
