Compania Maritima v. Insurance Co. of North AmericaFACTS: October, 1952:Macleod and Company of the Philippine !Macleod" contracted by telephone the er#ice of the Compa$ia Maritima !CM", a hippin% corporation, for:o hipment of 2,&'5 bale of hemp from the Macleod( Saa pri#ate pier at )a#ao City to Manila o *be+*ent tranhipment to ,oton, Maach*ett, -.S.A. on board the S.S. Steel /a#i%ator. Thi oral contract 0a later on con1rmed by a formal and 0ritten boo2in% i*ed by Macleod( branch o3ce in Saa and handcarried to CM( branch o3ce in )a#ao in compliance 0ith 0hich the CM ent to Macleod( pri#ate 0harf 4CT /o. 1526 and 1525 on 0hich the loadin% of the hemp 0a completed on October 29, 1952. o The 2 li%hter 0ere manned each by a patron and an aitant patron. The patron of both bar%e i*ed the correpondin% carrier( receipt and that i*ed by the patron of ,ar%e /o. 1525 read in part: 7ecei#ed in behalf of S.S. ,o0line 8not in %ood order and condition from MAC49O) A/) COMPA/: OF P;