Parties to the Contract

Agreements providing for the nomination or substitution of parties 2.15 Charters are sometimes negotiated on the basis that one party is ‘‘to be nominated’’ by

some other person. In such cases it is difficult to see how in principle a contract can arise until the nomination is made. Yet, in The Wave [1981] 1 Lloyd’s Rep. 521, Mustill, J., held, at page 528, that a charter had been validly concluded by a parent company, Coastal, acting on behalf of a Coastal subsidiary ‘‘to be nominated’’.