https://www.taxtmi.com/caselaws?id=156881 In FOB sales, the seller ordinarily loses insurable interest once goods are delivered to the carrier without reservation of title or lien, so a marine policy taken on a CIF basis despite an FOB transaction was treated as materially misrepresented and the insurance claim was rejected. For carrier liability, misdelivery of consolidated cargo remained actionable, but compensation was confined to the statutory package-based limit under the bill of lading and carriage regime; in the absence of declared nature and value in the bill of lading, the full value of the goods could not be recovered and the Special Drawing Rights limit applied. en-us Tue, 16 Mar 2010 00:00:00 +0530 Tue, 01 Jul 2025 17:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156881 In FOB sales, the seller ordinarily loses insurable interest once goods are delivered to the carrier without reservation of title or lien, so a marine policy taken on a CIF basis despite an FOB transaction was treated as materially misrepresented and the insurance claim was rejected. For carrier liability, misdelivery of consolidated cargo remained actionable, but compensation was confined to the statutory package-based limit under the bill of lading and carriage regime; in the absence of declared nature and value in the bill of lading, the full value of the goods could not be recovered and the Special Drawing Rights limit applied. Case-Laws Indian Laws Tue, 16 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156881