The bill of exchange serves as a receipt for shipment and a summary of freight charges; most importantly, it conveys title to the merchandise.

Question

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The bill of lading is the document that serves as a receipt for shipment and a summary of freight charges. The bill of exchange, on the other hand, is a financial document that functions as a form of payment and does not convey title to the merchandise.

The Bill of Exchange Serves as a Receipt for Shipment