The Bill of Lading Serves All of the Following Purposes

question 7

Multiple Choice

The bill of lading serves all of the following purposes except:

• A)it is a receipt.
• B)it is a bank note.
• C)it is a contract.
• D)it is a document of title.

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Definitions:

Equitable Remedy

A court-ordered action typically taken to prevent or resolve harm rather than monetary compensation, aiming to ensure fairness.

Statutory Assignment

The transfer of rights or benefits from one party to another as regulated and permitted by law.

Assignee

The party to whom rights or duties under a contract are transferred by another party (the assignor).

Notice of Assignment

A formal notification that a contract or property has been legally transferred from one party to another.