Bill of lading

bill of lading   n.   pl. bills of lading Abbr. B/L A document issued by a carrier to a shipper, listing and acknowledging receipt of goods for transport and specifying terms of delivery.

Main Entry: bill of lad·ing
Pronunciation: -'lA-di[ng]
: a document issued by a carrier that lists goods being shipped and specifies the terms of their transport
NOTE: A bill of lading serves as a receipt for the goods, a contract for the transport of the goods, and a document of title showing that the person in possession of the bill has title to the goods.

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clean bill of lading
: a bill of lading that does not have any notations written or otherwise marked on it that qualify or amend the bill

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negotiable bill of lading
: ORDER BILL OF LADING in this entry

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nonnegotiable bill of lading
: STRAIGHT BILL OF LADING in this entry

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order bill of lading
: a bill of lading under which the goods are to be delivered to the person named in the bill or to the named person's order or to the bearer of the bill called also negotiable bill of lading —compare STRAIGHT BILL OF LADING in this entry

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straight bill of lading
: a bill of lading that names the only person to whom the goods may be delivered called also nonnegotiable bill of lading —compare ORDER BILL OF LADING in this entry

bill of lading

document executed by a carrier, such as a railroad or shipping line, acknowledging receipt of goods and embodying an agreement to transport the goods to a stated destination. Bills of lading are closely related to warehouse receipts, which contain an agreement for storage rather than carriage. Both may be negotiable when they provide that the goods are to be delivered not to a fixed individual but, typically, to the order of a stated person; this person may endorse the document and give it to another, who will then be entitled to receive the goods. Such a negotiable document of title, which calls for the delivery of goods, must be distinguished from negotiable commercial paper such as notes and bills of exchange, which call for the payment of money. See also charter party.

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