44  THE  CONTEACT.
Sect.  37.     denotes  an  owner  to  whom  the  other  owners  have  delegated  the
management  of  a  vessel.     But  I  do  not  think  it  follows,  as  of
course,  that  every  single  other  owner  must  he  taken  to  have  joined
in  the  adventure  merely  because  there  is  an  owner  called  a  manag-
ing owner.     Language  occurs  both  in  some  text  books  and  in  some
decided  oases  which  seems  to  be  based  on  the  assumption  that  a
managing  owner  is  an  owner  employed  by  and  on  behalf  of  all  his
brother-owners  without  exception.     See  Abbott  on  Shipping,  p.  72,
10th  ed.;  Barker  v.  Highley(M);  Coulthurst  v.  Sweet  (a;).    But
there  is  no  magic  in  the  term  'managing  owner'  which  creates  Mm
a  plenipotentiary  for  those  owners  whose  agent  he  is  not  in  fact.
