Valid claim: a grievance that can be resolved by legal action. 

Verdict: the formal decision issued by a jury on the issues of fact that were presented at trial. 

Vessel manifest: the international carrier is obligated to make declarations of the ship's crew and contents at both the port of departure and arrival. The vessel manifest lists various details about each shipment by b/l number. Obviously, the b/l serves as the core source from which the manifest is created.

Vicarious liability: when one person is liable for the negligent actions of another person, even though the first person was not directly responsible for the injury. For instance, a parent sometimes can be vicariously liable for the harmful acts of a child and an employer sometimes can be vicariously liable for the acts of a worker.

Visa: voluntary intermodal sealift agreement.

VLCC: very large crude carriers: tankers between 200,000 and 300,000 dwt. 

Voir dire: a french phrase that means "to speak the truth." it is the process of interviewing prospective jurors. 

Voyage charter: a contract whereby the shipowner places the vessel at the disposal of the charterer for one or more voyages, the shipowner being responsible for the operation of the vessel.