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

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

Quizplus · Accepted Answer

The statement is incorrect. While a bill of lading serves as a receipt for shipment and a summary of freight charges, it is the bill of lading that conveys title to the merchandise, not the bill of exchange.

The Bill of Exchange Serves as a Receipt for Shipment