The Function and Ownership of Bills of Lading as the Contract of Carriage

This article primarily concerns the bill of lading’s legal functions and the passage of ownership in the bill of lading. It describes and analyzes the functions of the bill of lading and ownership which may be helpful for international traders and researchers. Also, it attempts to analyze the negotiable nature of the bill of lading in relation to its contractual roles in English and Korean law to observe their interrelationship and any influences on each other. The vital functions of the bill of lading can be summarized as the receipt for goods shipped, including receipt as to quantity and receipt as to condition, the evidence of the contract of carriage, a document of title and etc. The bill of lading should be treated as the contract of the carriage itself even between the carrier and the shipper.