“A bill of lading is a receipt for the goods shipped on board a ship, signed by the person who contracts to carry them, or his agent and stating the terms on which the goods were delivered to and received by the ship”.
A bill of lading contains the following particulars
- The name of the ship and its national character.
- A statement that it is subject to the rules laid down by the Act
- Marks for the identification of goods, the number of packages and the order and condition of the goods
- The port of loading, the destination and the route
- The amount of freight
- Expected perils and other terms of carriage of goods.
A Bill of Lading is a document to title of goods and can be sold while the goods are still in transit. The transfer of bill of lading serves as the symbolic delivery of goods. But strictly speaking, it is not a negotiable instrument though it is deliverable to a particular person or his order. therefore, it is sometimes described a “quasi-negotiable” or “as good as negotiable”.
0 Comments