Ralph,a representative for Statewide Truck & Transport Company,delivers a receipt issued by Thelma,the owner of United Storage Warehouse,for goods held in the warehouse to Vicky,the buyer for Wattage,Inc. This is
A)a bill of lading.
B)a destination contract.
C)a shipment contract.
D)a warehouse receipt.

Question

Quizplus · Accepted Answer

The scenario describes a situation where a representative is delivering a receipt issued by the warehouse owner for goods held in the warehouse to the buyer of the goods. This document is a warehouse receipt, which serves as proof of ownership of the goods while they are stored in the warehouse. A bill of lading is a document that serves as a contract of carriage between the shipper and the carrier, and it is used to document the movement of goods from one place to another. A destination contract is a contract where the seller bears the risk of loss or damage to the goods until they are delivered to the buyer's premises. A shipment contract is a contract where the risk of loss or damage to the goods passes from the seller to the buyer when the goods are delivered to the carrier for transportation.

Ralph,a Representative for Statewide Truck & Transport Company,delivers a Receipt