Summary

Portrait of James Clark McReynolds James Clark McReynolds Austin Nichols Company v. The Isla De Panay Sanchez…

With reference to the shipment of 227 casks of olives that we are making by the steamer Isla de Panay to New York, we understand that that company considers the containers insufficient and that it does not accept responsibility for the damages that they suffer as natural consequences of the voyage, and as guarantee of that company we sign the present, as you have delivered us clean bills of lading.
Source: Wikisource

Portrait of James Clark McReynolds James Clark McReynolds Austin Nichols Company v. The Isla De Panay Sanchez…

Petitioners did not allege fraud or any peculiar trade usage at Seville, and there is no sufficient evidence to establish either of these things. The mere statement by the ship's captain referred to above is not enough to show a peculiar trade usage at Seville, there commonly known and acted upon, and it does not appear that the bank which accepted the bills of lading lacked full information concerning the circumstances attending their issue. The argument of counsel proceeds mostly upon assumption not supported by the record.
Source: Wikisource

Portrait of James Clark McReynolds James Clark McReynolds Austin Nichols Company v. The Isla De Panay Sanchez…

Consignees had instructed their bankers in Spain to pay the purchase price of the goods only upon presentation of clean bills of lading, and there is evidence to the effect that if bills are issued with a notation of bad condition they will not be accepted by insurance companies or bankers in Spain, but if such note be omitted they will pass, upon the assumption that the goods have been shipped in apparent good order and condition.
Source: Wikisource

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