BANKING AFFAIRS

Detailed explanation-1: -The bill of lading is a legally binding document that provides the carrier and the shipper with all of the necessary details to accurately process a shipment.1 It has three main functions: It is a document of title to the goods described in the bill of lading. It is a receipt for the shipped products.

Detailed explanation-2: -Railway receipts are document of title of goods.

Detailed explanation-3: -As per Section 2(4), we can confer that the Document of the title to goods includes a bill of lading, dock-warrant, warehouse keeper’s certificate, railway receipt, multimodal transport document, warrant or order for the delivery of goods.

Detailed explanation-4: -document of title to goods means a written description, identification or declaration of goods which, in the regular course of business or financing, is treated as evidencing that the person in possession of it is entitled to receive, hold and dispose of the document and the goods it covers.