BILLS OF LADING LAW (1997 Revision)

CAYMAN ISLANDS BILLS OF LADING LAW (1997 Revision) Supplement No. 3 published with Gazette No. 7 of 1st April, 1997. PUBLISHING DETAILS Revised under the authority of the Law Revision Law (19 of 1975). Originally enacted- Cap. 12-1st January, 1964 Revised this 4th day of March, 1997. Page 2 Revised as at 4th day of March, 1997 c Bills of Lading Law (1997 Revision) Arrangement of Sections CAYMAN ISLANDS BILLS OF LADING LAW (1997 Revision) Arrangement of Sections Section Page 1. Short title ...................................................................................................................................5 2. Transfer of rights and liabilities ..................................................................................................5 3. Preservation of rights .................................................................................................................5 4. Bill of lading conclusive evidence in certain cases .....................................................................6 c Revised as at 4th day of March, 1997 Page 3 Bills of Lading Law (1997 Revision) Section 1 CAYMAN ISLANDS BILLS OF LADING LAW (1997 Revision) ENACTED by the Legislature of the Cayman Islands. 1. Short title 1. This Law may be cited as the Bills of Lading Law (1997 Revision). 2. Transfer of rights and liabilities 2. Every consignee of goods named in a bill of lading, and every endorsee of a bill of lading to whom property in the goods therein mentioned shall pass upon or by reason of such consignment or endorsement, shall have transferred to and vested in him all rights of suit and be subject to the same liabilities in respect of such goods as if the contract contained in the bill of lading had been made with himself. 3. Preservation of rights 3. Nothing herein contained shall prejudice or affect any right of stoppage in transitu, any right to claim freight against the original shipper or owner or any liability of the consignee or endorsee by reason or in consequence of his being such consignee or endorsee, or of his receipt of the goods by reason or in consequence of such consignment or endorsement. c Revised as at 4th day of March, 1997 Page 5 Section 4 Bills of Lading Law 4. Bill of lading conclusive evidence in certain cases 4. Every bill of lading in the hands of a consignee or endorsee for valuable consideration representing goods to have been shipped on board a vessel shall be conclusive evidence of such shipment as against the master or other person signing the same, notwithstanding that such goods or some part thereof may not have been so shipped, unless such holder of the bill of lading shall have had actual notice at the time of receiving the same that the goods had not been in fact laden on board: Provided that the master or other person so signing may exonerate himself in respect of such misrepresentation by showing that it was caused without any default on his part, and wholly by the fraud of the shipper, holder or some person under whom the holder claims. Publication in revised form authorised by the Governor in Council this 4th day of March, 1997. Carmena H. Parsons Clerk of the Executive Council Page 6 Revised as at 4th day of March, 1997 c