Study On The Character Of Bill Of Lading--Discussion On The Problems In Carrier's Delivery Without Presenting Bill Of Lading

Bill of lading is generally regarded as the most important document of title, whose functions have been beyond the scope of shipping field. It plays an important role in the international trade.So, studying the nature of the Bill of lading is the main point in studying maritime law.The first chapter of this article deals with ostensible title of B/L. As is discussed, the Bill of lading is one kind of "value document". Ostensible title enables the debtor to discharge his obligation by performing it good faith to the title holder. The B/L is also referred to as a "presentation document".Substantive title of the B/L is discussed in the second chapter. Substantive title, is a real title, which can be upheld on investigation and allows the holder to keep what he may have received as ostensible title holder. The substantive title involves two things: (1) a valid acquisition goods from the transferring of ostensible title holder; (2) the title to control goods.The third chapter is about the character of the action, which the carrier delivers the goods to the person who can not present the B/L. It is regarded as an action of breach of faith.The forth chapter has discussed on the pledge function of the bill of lading when used in the L/C practice, stating that the bill of lading pledge is some right pledge to secure the creditor bank.