A bill of lading is a document issued by the common carrier (such as a shipping company) acknowledging receipt of goods for shipment. It serves as evidence of the contract of carriage, provides instructions for the carrier, and can serve as title to the goods, allowing the buyer to take possession of them upon arrival.

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A Bill of Lading

Question 8

Multiple Choice

A bill of lading

A) is a document issued by the common carrier specifying that it has received the foods 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 above

Correct Answer: