The document defines a bill of lading as a receipt signed by a carrier acknowledging receipt of goods and promising to deliver them safely to the designated port, excepting damages from the sea. It serves as a title of goods, a receipt of goods, and a contract of transportation between the shipper and carrier.

2. “ A written account of goods shipped by
any person signed by the agent of the
owner of the vessel, or by its
master, acknowledging receipt of the
goods, and promising to deliver them safe
at the port directed, damages of the sea
excepted.”

3. http://en.wikipedia.org/wiki/Bill_of_lading
Description
The Bill of Lading is issued by a carrier, which details
a shipment of merchandise, gives title, and requires a carrier to deliver
the merchandise to the appropriate party.
History
The Bill of Lading evolved with the growth of shipping in the medieval
world. Merchants needed a way of knowing what had been loaded onto
ships, and began to issue signed receipts to certify the loading of
goods, and the condition of those goods at the time of loading. With the
growth of mercantilism these receipts began to be used as the title to the
goods.

4. 1. It conveys title to the merchandise;
2. It is the receipt of acknowledgement of the
goods signed by the carrier;
3. It serves as a contract of transportation
between the shipper and the carrier.

5. http://en.wikipedia.org/wiki/Bill_of_lading
Bill of Lading as Receipt
The principal use of the Bill of Lading is
as a receipt issued by the carrier once the
goods have been loaded onto the vessel. This
receipt is used as proof of shipment for
customs and insurance purposes, and also as
commercial proof of completing a contractual
obligation.

6. http://en.wikipedia.org/wiki/Bill_of_lading
Bill of Lading as Title
The Bill of Lading confers title to the
goods to the consignee noted on the Bill of
Lading. The Bill of Lading may also be
made out "To Order", which confers title to
the goods to the holder of the Bill of Lading.

7. http://en.wikipedia.org/wiki/Bill_of_lading
Bill of Lading as Negotiable
Instrument
Because the Bill of Lading
represents title to the goods detailed
upon it, the BoL can be traded in much
the same way as the goods may be, and
even borrowed upon if desired.

9. “A conditional conveyance of property as
security for the payment of the debt or the
performance of some other obligation.”
A mortgage loan is a loan secured by real property through
the use of a mortgage note which evidences the existence of
the loan and the encumbrance of that realty through the
granting of a mortgage which secures the loan. However, the
word mortgage alone, in everyday usage, is most often used to
mean mortgage loan.
http://en.wikipedia.org/wiki/Mortgage_loan

10. From the Latin “mortus” meaning dead, and “vas” signifying a
pledge. And the Old French mortgage, literally a deathgage or
pledge is a conveyance of property as security for a debt, which
is lost or becomes dead to the debtor if the money or the
interest due thereupon is not paid on a certain day.
The word mortgage is a French Law term meaning
"death contract", meaning that the pledge ends (dies)
when either the obligation is fulfilled or the property
is taken through foreclosure.
http://en.wikipedia.org/wiki/Mortgage_loan

11. a. Immovables
b. Alienable real
rights in
accordance with the laws
imposed upon immovables.
Nevertheless, movables may be
the object of chattel mortgage.

12. CHATTEL MORTGAGE AND MORTGAGE ON REAL
PROPERTY
By Chattel Mortgage:
Personal property is recorded in the Chattel Mortgage
Register as the security for the performance of an obligation.
Example:
An automobile which is pledged as a security of a loan obtained
by a mortgagor. If the movable instead of being recorded, is
delivered to the creditor or third person, the contract is
pledged and not a chattel mortgage.

13. By Mortgage on personal or real
property
It may be on land and
building, factories, machinery, and the
like. Torrens title on real estate may be
pledged to secure loans. To secure loans
bonds and stocks may also be pledged.

14. Close-end Mortgage and Open-end Mortgage
Close-end mortgage
It is used to refer to mortgage by a corporation
used as collateral security for a loan of a fixed
amount.
Open-end mortgage
It permits the sale of additional bonds at a
later date under original mortgage.

15. Devised purposely to eliminate
the shortcomings that are
present in both the close-end
mortgage and open-end mortgage

16. •(Pledge or pawn) in law, is “bailment of
goods” by a debtor to his creditor to be
kept till the debt is discharged.
•Itis also used to denote the property
which constitutes the security.
•Itis the pignus of Roman Law from which
most of the modern law on the subject is
derived.

17. “all movables which are within
the commerce of man may be
pledge, provided they are
susceptible of possession.”

18. 1. That they be constituted to secure the fulfillment
of a principal obligation;
2. That the pledgor or mortgagor be the absolute
owner of the thing pledged or mortgaged;
3. That the persons constituting the pledge or
mortgage have the free disposal of their
property, and in the absence thereof, that they
may be legally authorized for the purpose.

19. A warehouse receipt is a document that provides proof of
ownership of commodities (e.g., bars of copper) that are stored
in a warehouse, vault, or depository for safekeeping.
Warehouse receipts may be negotiable or non-negotiable.
Negotiable warehouse receipts allow transfer of ownership of
that commodity without having to deliver the physical
commodity.
Most warehouse receipts are issued in negotiable
form, making them eligible as collateral for loans. Non-
negotiable receipts must be endorsed upon transfer. Warehouse
receipts are regulated by the Uniform Warehouse Receipts Act.

20. Warehouse receipts also guarantee existence and
availability of a commodity of a particular quantity, type, and
quality in a named storage facility. It may also show transfer of
ownership for immediate delivery or for delivery at a future
date. Rather than delivering the actual commodity, negotiable
warehouse receipts are used to settle expiring futures contracts.
Warehouse receipts may also indicate ownership of
inventory goods and/or unfinished goods stored in a warehouse
by a manufacturer or distributor.

22. A trust receipt
need not be in any form but it must substantially
contain the following:
1. A description of the goods, documents or instruments
subject of the trust receipt
2. The total invoice value of the goods and the amount of
the draft to be paid by the
entrustee

23. 3. An undertaking or a commitment of the entrustee:
a. to hold in trust for the entruster the goods, documents or
instruments therein described
b. to dispose of them in the manner provided for in the trust receipt;
and
c. to turn over the proceeds of the sale of the goods, documents or
instruments to the entruster to the extent of the amount owing to the
entruster or as appears in the trust receipt or to return the
goods, documents or instruments in the event of their non-sale
within the period specified therein.

24. 4. The trust receipt may contain other terms and conditions agreed
upon by the parties in
addition to those hereinabove enumerated provided that such terms
and conditions shall
not be contrary to the provisions of this Decree, any existing
laws, public policy or morals, public order or good customs.
5. Trust receipts are denominated in Philippine currency or
acceptable and eligible foreign
currency.