"  A  cargo  at  sea,  while  in  the  hands  of  the  carrier,  is  necessarily
incapable  of  physical  delivery.  During  this  period  of  transit  and
voyage,  the  biU  of  lading  by  the  law  merchant  is  universally
recognized  as  its  symbol;  and  the  indorsement  and  delivery  of
the  bin  of  lading  operates  as  a  symbolical  delivery  of  the  cargo.
Property  in  the  goods  passes  by  such  indorsement  and  delivery  of
the  bill  of  lading,  whenever  it  is  the  intention  of  the  parties  that
the  property  should  pass,  just  as  under  similar  circumstances  the
property  would  pass  by  an  actual  delivery  of  the  goods.  And  for
the  purpose  of  passing  such  property  in  the  goods,  and  completing
the  title  of  the  indorsee  to  full  possession  thereof,  the  bill  of  lading,
until  complete  delivery  of  the  cargo  has  been  made  on  shore  to
someone  rightfully  claiming  under  it,  remains  in  force  as  a  symbol,
and  carries  with  it  not  only  the  full  ownership  of  the  goods,  but
also  aU  rights  created  by  the  contract  of  carriage  between  the
shipper  and  the  shipowner.  It  is  a  key  which  in  the  hands  of  a
rightful  owner  is  intended  to  unlock  the  door  of  the  warehouse,
floating  or  fixed,  in  which  the  goods  may  chance  to  be  "  (l).
(0  Per  Bowen,  L.  J.,  Sanders  v.  Maclean,  11  Q.  B.  D.  327,  at  p.  341.
570


THE  DELIVERY.
Sect.  486.
mean  assigns
of  bill  of
lading.
Essentials  of
negotiability
of  bill  of
lading.
