I don't grok the facts of this case. What does
refused to redeem the pledge when the bills of lading were tendered to them by Chabbramean? Why must the buyers redeem the pledge, once Chabbra (seller) tendered the buyers the BoL?
Why would a savvy seller even transact with buyers who couldn’t pay for the transaction upfront? Aren't such buyers — who must pledge BoLs to finance a transaction — obviously risky and unreliable?
Chabbra Corp PTE Ltd v Owners of the Jag Shakti (The Jag Shakti)  AC 337 (PC)
FACTS: Chabbra Corp PTE Ltd (the seller) shipped a cargo of salt on board the Jag Shakti (a ship belonging to the defendants). The buyers of the cargo had pledged the bills of lading to Chabbra in order to finance the transaction. The buyers persuaded the defendants to release the goods to them, without presentation of the bills of lading, by providing them with an indemnity, and then
refused to redeem the pledge when the bills of lading were tendered to them by Chabbra. Chabbra sued the ship owners for conversion.
HELD: Chabbra was entitled in principle to recover the full market value of the goods at unloading from the carrier, though owing to a lack of evidence as to that value, it must be content with the sum it had advanced to the buyers.
Lee Roach, Commercial Law 2019 3e, p 39.