- Licences required for future operation of trawling ship
- Charterer of ship applied for enough licences to cover all of his ships, only granted 3
- Charterer did not apply licence to chartered ship
- Was charterparty frustrated?
- Licence due to rightful election of charterer, who remained liable for hire as could not dishrag contract unilaterally. No frustration where due to fault of one of the parties.