Rescission of charterparty: when words speak as loudly as actions
The Court has held that charterers were in repudiatory breach of charter by redelivering the vessel early. The Charterers claimed that they were entitled to rescind the charter because the Owners had misrepresented the vessel’s performance capabilities.
The Court, however, held that the Charterers had affirmed the charter by their conduct and had thereby lost the right to rescind it, even though they had continued to perform their charter obligations under a “reservation of rights”.
Please also read the article by Eric Eyo, here.
#maritimelaw #shippingindustry #shippinglaw #charterers #SKShippingEurope #CapitalVLCC #CapitalMaritime #Rescission #Affirmation #Ince