https://www.taxtmi.com/caselaws?id=193033 An owner may validly pledge goods by endorsing and transferring the railway receipt representing them, because the receipt operates as a document of title and its transfer can amount to constructive delivery. Reading the Contract Act, Sale of Goods Act and Transfer of Property Act together, the Court treated the loan, promissory note and receipt endorsement as showing an intention to secure the bank's control over the goods until repayment, and upheld the pledge. However, a railway receipt is not a negotiable instrument and does not by itself transfer the contract of carriage. A separate assignment must be proved before rights on that contract can be enforced. en-us Wed, 03 Mar 1965 00:00:00 +0530 Mon, 10 Jul 2017 11:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193033 An owner may validly pledge goods by endorsing and transferring the railway receipt representing them, because the receipt operates as a document of title and its transfer can amount to constructive delivery. Reading the Contract Act, Sale of Goods Act and Transfer of Property Act together, the Court treated the loan, promissory note and receipt endorsement as showing an intention to secure the bank's control over the goods until repayment, and upheld the pledge. However, a railway receipt is not a negotiable instrument and does not by itself transfer the contract of carriage. A separate assignment must be proved before rights on that contract can be enforced. Case-Laws Indian Laws Wed, 03 Mar 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193033