Question
Bill of lading is a negotiable instrument in the commercial sense.
Answer :
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Skip in 10
The bill of lading lacks the most important and characteristic element of negotiability: it may not give to a transferee a better title than that possessed by the transferor. The question which logically arises is whether this means that the bill of lading is not a negotiable document. This is impossible to answer without an explanation of the character and functions of the bill of lading.
The transferee for value, who takes a negotiable instrument in good faith and without notice of any defect in the title of his
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