Part 5
Other commercial matters
Bills of lading, sea waybills, and ship’s delivery orders:
Rights under shipping documents
315Rights where possession of bill of lading no longer gives right to possession of goods
This section applies if a person (A) becomes the lawful holder of a bill of lading at a time when possession of the bill no longer gives a right (as against the carrier) to possession of the goods to which the bill relates.
No rights are transferred to A under section 314 unless A becomes the holder of the bill—
- because of a transaction effected under a relevant arrangement; or
- as a result of another person (B) rejecting to A goods or documents that were delivered to B under a relevant arrangement.
In this section, relevant arrangement means a contractual or other arrangement that was made before the right to possession of the goods ceased to attach to the possession of the bill of lading.