D had long-term charterparty of ship.
Owners sold ship to LS, who took it on understanding
charterparty would be honoured.
LS then pleaded they were not bound by charterparty.
Privy Council upheld Defendant’s charterparty.
Held case fell within rule in Tulk v Moxhay relating to use of land –
Whether subject matter was land or chattel, principle
was that equity would give remedy ‘by way of injunction against acts
inconsistent with covenant, with notice of which land was acquired’.