Page 364 - Important Provisions of The New Civil Code

Where goods are shipped, and by the bill of

lading the goods are deliverable to order of the

buyer or of his agent, but possession of the bill of

lading is retained by the seller or his agent, the

seller thereby reserves a right to the possession

of the goods as against the buyer.

Where the seller of goods draws on the buyer for

the price and transmits the bill of exchange and

bill of lading together to the buyer to secure

acceptance or payment of the bill of exchange,

the buyer is bound to return the bill of lading if

he does not honor the bill of exchange, and if he

wrongfully retains the bill of lading he acquires

no added right thereby. If, however, the bill of

lading provides that the goods are deliverable to

the buyer or to the order of the buyer, or is

indorsed in blank, or to the buyer by the

consignee named therein, one who purchases in

good faith, for value, the bill of lading, or goods