BILL of Lading, a document by which the master of a ship acknowledges to have received on board in good order and condition certain specified goods laden by some particular shipper, and binds himself to deliver them in like good order and condition (the dangers and accidents of the seas, fire, enemies, &c., excepted) to the assignees of the shipper at the port of destination, on payment of a stipulated freight. Bills of lading are usually drawn out in sets of two, three, or four copies, "one of which bills being accomplished the others stand void." Each of these copies must be written on a sixpenny stamp.
A bill of lading is a negotiable document, and may, like a bill of exchange, be transferred by indorsement, either blank,
Bill of Mortality or in favour of any particular assignee. The shipmaster is bound to deliver the goods to the holder of the bill of lading, who on his part becomes responsible for the freight stipulated as payable on delivery. If the goods be lost or damaged by any causes not falling within the exception of the "dangers and accident of the seas, &c.," as for instance by improper stowage, the holder of the bill of lading may recover the damages from the master or owners of the ship.
Bills of lading should never be granted till the goods are actually on board, otherwise the shipmaster will be personally liable for their value, failing delivery, to any individual who may have acquired the bill of lading for an onerous consideration. In a recent case of this nature it was decided that the owners of the ship could not be held liable for the value of the goods, on the ground that the shipmaster, in granting bills of lading for goods not on board, was acting beyond the scope of his authority as their agent. (J. W.—K.)