Where the Shipper Fails to Declare the Value of the Shipment

question 35

True/False

Where the shipper fails to declare the value of the shipment on a clean bill of lading and the carrier has knowledge of the true value and does not advise the shipper to declare the value so,in the U.S.the carrier's liability will be unlimited liability per package.

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Definitions:

Goodwill

An intangible asset representing the value of a company's brand, customer base, and reputation.

Beginner's Mistakes

Common errors made by novices in a particular field, often due to lack of experience, which can serve as valuable learning opportunities.

Tangible Assets

Physical and material assets that have monetary value and can be seen, touched, and quantified, such as machinery, buildings, and inventory.

Sales Potential

The estimated maximum total sales revenue of a product in a specific market during a certain time period.