It is possible for common carriers to limit their bailment liability to a certain extent, either by general notice, or by special contract.

The extent to which liability may be limited by the first method is very slight. Although isolated cases may be found to the contrary, the better view unquestionably is that there is only one class of cases in which a carrier may limit its liability by a notice publicly posted but not shown to have been called to the attention of the particular shipper whom it is sought to affect, namely where the carrier has posted a notice to the effect that the true value of all articles shipped must be declared at the time the shipment is made, or else the carrier will be liable only for the apparent value of such articles.14