This section is from the book "The Law Of Contracts", by Theophilus Parsons. Also available from Amazon: The law of contracts.
There might be some reason for holding that the part-owners have a general lien on the ship for their just charges or balances of accounts against each other, in relation to the ship, but this is certainly not so determined by law or by usage. Partners who own a ship as a part of the partnership stock, would have such a lien. But part-owners would not; for the reason that they are not partners. It is somewhat difficult to deal with this question. We should say, however, in general, that a part-owner, merely as part-owner, has no lien whatever; (t) but when his relation with the other part-owners is such as to permit the application of principles of partnership, or agency, or bailment, which would raise a lien, he would then have such lien. As, for example, if a partowner made advances for a certain voyage and came into possession of the proceeds, he would have a lien on them for those advances ; (u) because he would be acting as agent of the owners, and such agent so acting would have such a lien, although not part-owner. So the admission or acknowledgment of a part-owner in respect to the ship would not bind the other part-owners, (v) although the admission or acknowledgment of a partner in relation to the business of the firm binds all the partners.
 
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