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Hello Mr Mike
I have another doubt …
In a Negotiable Bill of Lading , after it has been indorsed , does the holder of the Bill receive the goods from the carrier or just the payment on sale of those goods ? or can it be both the cases ?
And in a non negotiable bill ,the holder of the bill receives the delivered goods ?Thank You : )
Q1 That indorsement is the key! Because it’s a negotiable bill of lading, that indorsement transfers the rights to the goods identified in the bill of lading.
Q2 And then, of course, because the endorsee has the title to the goods, the endorsee is able to sell them and receive the payment of the proceeds from sale
Q3 Yes, as above, it IS both cases
Q4 The question here should be ‘How has anyone other than the named buyer managed to get their hands on a non-negotiable bill?’ The carrier must deliver to the named recipient and that recipient should produce the bill to the carrier to establish the right of receipt of the associated goods.
Is that OK now?
Yes , the concept of negotiable and non negotiable bill is clear now : )
Thank You so much Mr. Mike
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