Ruston Gas Turbines, Inc., and Ruston Gas Turbines, Ltd. v. Pan American World Airways, Pinto Trucking Service, Inc.

OAKES, Circuit Judge:

Deregulation of certain common carriers returns us to the common law. Only recently this court had occasion to consider the response of the common law to limitations of liability in agreements between a carrier and shipper, in Shippers National Freight Claim Council, Inc. v. ICC, 712 F.2d 740, 745-47 (2d Cir.1983), cert. denied, — U.S. -, 104 S.Ct. 3534, 82 L.Ed.2d 839 (1984). There we noted that “so long as the limitation was granted by the shipper in consideration for a lower rate of freight than would reasonably be charged for the carrier’s unlimited liability” an…