These documents are also by the law-merchant now treated as negotiable instruments to a certain extent. (aa) The master, by signing such bill, promises to deliver the goods to A " or his assigns." If A indorses the bill to any person, or in blank, delivering it to any person, that constitutes such person his assignee, and vests in him a property in the goods, and he may claim the goods of the captain or owners in the place of the person putting them on board, and with the same rights. (b) But a bill

(y) Hellish v. Simoon, 2 H. Bl 378; De Tastet v. Baring, 11 East, 265, Graves v. Dash, 12 Johns. 17 (overruling Hendricks v. Franklin, 4 John. 119); Den-ston v. Henderson, 13 id. 322. The holder may also, upon protest for non-acceptance, without waiting for protest upon nonpayment, maintain an action against the drawer *or indorser, and recover all the customary damages. Welden v. Buck, 4 Johns 144; Whitehead v. Walker, 9 M. & W. 506. But the acceptor is not liable for re-exchange. Woolsey v. Crawford, 2 Camp. 445; Napier v Schneider, 12

Fast, 420; Sibely v Tut, 1 McMull, Eq. 320; Suse v. Pompe, 98 Eng. C. L. 538. See on this topic, Pars. Notes & Bills, 652, 661.

(z) Hendricks v. Franklin, 4 Johns 119, per Spencer, J.; Parsons, C J., in Grimshaw v. Bender, 6 Mass. 157.

(a) Scott v. Bevan, 2 B. & Ad. 78; Smith v. Shaw, 2 Wash. C. C. 167; Grant V. Healey, 3 Sumner, 52.'!.

(aa) These are also made so in Eng land by 18 & 19 Vict. ch. 111

(b) Lickbarrow v. Mas..,,, 2 T. R, 63; Newsom p. Thornton, 6 East, 41; Berkof lading is rather quasi negotiable than actually so,1 the effect of the indorsement being only to transfer the property in the goods and not the right upon the contract itself, and the indorsee cannot maintain an action on the bill itself in his own name, nor an action on the case for the non-delivery of the goods. (c)2 And a mere memorandum of shipment would not * have the force nor the negotiability of a bill of lading, (d) nor will the property in goods, for which a bill of lading has been given, pass by a mere delivery of the bill without indorsement, (e) or by indorsement without delivery. (/) For a further statement of the law of Bills of Lading, see the chapter on the Law of Shipping.

Certificates are sometimes used as if they were negotiable; but in an interesting case in Massachusetts, it was decided that they were not, and that the word "trustee " added to the name of the person in whose name they stood notified the person to whom they were delivered as security, and he could not make a valid transfer of them. (ff)