Question 346.— A certificate of insurance is attached to a bill of lading. Must this certificate be drawn in favour of the drawer of the relative bill of exchange, or may it be in favour of the bank negotiating the draft ? Is either form of procedure legal?

Answer.—We do not think it is material to whom a marine certificate of insurance is issued. The loss under these certificates is usually made payable to a specified person or to his order, and if in case of loss the party holding the bill of lading holds a certificate of insurance which is originally, or by endorsement, made payable to himself, he is entitled to collect the insurance.