from
Bouvier's Law Dictionary, Revised 6th Ed (1856)
EXERCITOR. A term in the civil law, to denote the person who fits out, and
equips a vessel, whether he be the absolute or qualified owner, or even a
mere agent. Emer. on Mar. Loans, c. 1, s. 1.
2. In English, we generally use the word "ship's husband," but
exercitor is generally used to designate and distinguish from among several
part owners of a ship, the one who has the immediate care an management of
her. Hall on Mar. Loans 142, n. See Dig. 19, 2, 19, 7; Id. 14, 1 1, 15;
Vicat, Vocab.; Ship's husband.