Bill of Lading A Bill of Lading is a receipt for goods either received (before shipment) or shipped on board. Is a good evidence of the existence of a contract between the shipper and carrier. It is not a true contract since only one party signs it. Is a document of title, signifying that the holder has the legal right to possession of the goods it describes. Right to possession is different from the right to ownership, which is determined by the terms of the sale contract. May, depending on how Bill of Lading is made out, be negotiable i.e. transferable to a third party so as to … [Read more...]