''Nature  and  Functions  of  the  Bill  of  Lading.  An  in
portant  function  of  the  bill  of  lading  is  to  give  formal  expressic
to  the  stipulations  and  conditions  under  which  the  carrier  seel
to  obtain  a  modification  or  limitation  of  the  liability  that  othe
wise  would  be  imposed  upon  it  under  the  common  law.  Whi
the  limitations  of  the  carrier's  liability  must  be  agreed  to  by  tl
shipper  and  the  agreement  be  invested  with  the  sanctity  of
valid  contract,  neither  by  common  law  nor  by  federal  statute  :
this  country  is  any  particular  form  of  contract  or  solemnity  <
execution  required.  Contracts  between  shippers  and  carric
however,  are  almost  invariably  evidenced  by  the  more  or  less  fo
mal  bill  of  lading,  written  or  printed,  which  serves  three  di
tinct  functions:  First,  a  receipt  for  the  goods;  second,  a  coi
tract  for  their  carrage;  and,  third,  documentary  evidence   <


CH.  11.  BEGINNINO  OF  LIABILITY  85

title  to  the  goods.    As  a  receipt  for  the  goods,  it  recites  the
place  and  date  of  shipment;  describes  the  goods,  their  quantity,
weight,  dimensions,  identification   marks,   condition,   etc.,   and
sometimes  their  quality  and  value.    As  a  contract,  the  bill  names
the  contracting  parties,  specifies  the  rate  or  charge  for  transpor-      ^  ^
tation,  and  sets  forth  the  agreement  and  stipulations  with  re-
spect to  the  limitations  of  the  carrier's  common-law  ability*  in
the  case  of  loss  or  injury  to  the  goods  and  other  obligations  as-
sumed by   the   parties   or   matters    agreed   upon   between    them.
That  part  of  the  bill  which  constitutes  a  receipt  may  be  treated
as  distinct  from  the  part  incorporating  the  contractual  terms.
Porter,  Law  of  Bills  of  Lading,  §  14,  citing  Myer  v.  Peck,  1
Tiflfany  (28  N.  Y.),  590;  Higgins  v.  U.  S.  M.  S.  S.  Co.,  3  Blatchf.
