JACK M. GORDON, District Judge:
The nature of this case is better described by a brief compendium of occurrences so as to provide a much needed overview before engaging in a definitive discussion of the facts.
Pursuant to a charter party entered into by Texaco, Inc., the plaintiff herein, and Universal Marine, Inc., the defendant, Texaco became the time charterer of a tugboat and tank barge. The purpose of the charter party was to acquire means of transporting...
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