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CHAPTER 7 THE DOCUMENTS AS SECURITY II: PROPERTY

Bills of Lading and Bankers Documentary Credits

7

THE DOCUMENTS AS SECURITY II: PROPERTY

THE DOCUMENTS AS SECURITY II: PROPERTY

7.1 Another nineteenth-century development was the idea that the person holding the bill of lading was entitled to constructive possession of the goods. The bill of lading, as a document of title, has been described as the “symbol of the goods”, or the “key to the warehouse”.1 Bowen L.J. famously observed in Sanders v. Maclean that2:

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