Where a bill of lading is issued by or on behalf of the shipowner1, the person entitled to delivery is the holder of that bill, whether as consignee or indorsee under a valid indorsement2. The carrier is not, however, bound to deliver unless the bill of lading is produced3 and any lien over the cargo satisfied4.
If the shipowner delivers cargo to a person not entitled to it without production of the bill, he is responsible for its value to the person actually entitled
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