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This work, originally conceived and written in 2005 as a dissertation at the IMO - the International Maritime Law Institute of Malta, provides an innovative and complete analysis of the bill of lading and its functions. The author aims here to analyze the bill of lading with its different functions, as they are embodied in the Italian legislation, starting from a Common Law approach and perspective. The reader of this monograph will find an effective and actual outlook on the Italian maritime legislation, with a focus on the transport of goods by sea.