An Ocean Carrier Is Liable for Its Failure to Use

question 34

True/False

An ocean carrier is liable for its failure to use due diligence in providing a seaworthy ship at the beginning of the voyage.

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Definitions:

Liability

Financial obligations or debts that an entity is legally required to repay in the future.

Company

A business entity created by a collection of people to conduct and manage an enterprise, whether it be for commercial or industrial purposes.

Par Common Stock

The nominal or face value of a share of common stock as stated in the corporate charter, with no direct link to the market value.

Articles Of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.