A bill of lading is a legal document issued by a carrier (such as a ship, truck, or train) that acknowledges receipt of goods for shipment. It serves as proof of contract between the shipper and the carrier, and can also serve as a document of title to the goods. It includes details such as the name and address of the shipper and consignee, description of the goods, and the terms of the shipment.

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A Bill of Lading

Question 19

Multiple Choice

A bill of lading

A) is a document issued by the common carrier specifying that it has received the goods for shipment; it can serve as title to the goods.
B) later becomes a banker's acceptance.
C) is a time draft that calls for payment upon physical delivery of goods.
D) none of the options

Correct Answer: