Section 25(3) in The Jammu and Kashmir Sale of Goods Act, 1996 (1939 A.D.)
(3)Where the seller of goods draws on the buyer for the price and transmits the bill of exchange and bills of lading to the buyer together, to secure acceptance or payment of the bill of exchange, the buyer is bound to return the bill of lading if he does not honour the bill of exchange and if he wrongfully retains the bill of lading the property in the goods does not pass to him.
