ABSTRACT
A number of theories have tried to explain the position of the holder of the bill of lading independently, without deriving it from the position of the shipper or from the contract of carriage as such. The holder of the bill of lading was also the owner of the goods and thus had ownership rights. The non-contracting shipper does not get title to the goods transferred to him by means of the bill of lading, but he may initially be the owner of the goods to be shipped. In many cases, the relationship would have come into being before the bill is lading is presented to the carrier in the port of destination. An intermediate holder has rights against the carrier during the time that he holds the bill of lading, but loses those rights again when he transfers the bill of lading to a subsequent holder.
