3/90

N.Y.P.E. form - “Anti-technicality” clause - Whether vessel validly withdrawn from chartered service

The vessel was chartered on the N.Y.P.E. form as amended. Clause 5 (which included lines 60 and 61) provided that payment of hire was to be made in cash semi-monthly in advance, and gave the owners liberty to withdraw the vessel in the event of a failure to make punctual and regular payment of the hire.