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Outdoor Outfitters Store contracts to buy fifty tents from Pitched Camp, Inc. Unless the contract states otherwise, this document is assumed to be
A) a bill of lading.
B) a destination contract.
C) a shipment contract.
D) a warehouse receipt.
Destination Contract
A contract specifying that the seller is responsible for delivering goods to a specific location, with the risk of loss transferring upon delivery.
Shipment Contract
An agreement where the seller is obligated to transport goods to a specific destination, with title and risk of loss passing to the buyer upon delivery to a carrier.
Bill Of Lading
An official document issued by a carrier to acknowledge receipt of cargo for shipment, acting as a contract between the owner of the goods and the carrier.
- Comprehend the subtleties involved in contracts regarding shipments, destinations, and warehouse receipts.
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Learning Objectives
- Comprehend the subtleties involved in contracts regarding shipments, destinations, and warehouse receipts.
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