Where, when a person becomes the lawful holder of a bill of lading1, possession of the bill no longer gives a right, as against the carrier, to possession of the goods to which the bill relates2, that person does not have any rights of suit transferred to him3 unless he becomes the holder of the bill:
(1) by virtue of a transaction effected in pursuance of any contractual or other arrangements made before the time when such a right to possession ceased to attach to possession of the bill
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