Question

Bill of Lading is a

• A. fully negotiable instrument
• B. non-negotiable instrument
• C. bearer negotiable instrument
• D. quasi negotiable instrument

Answer 1

Answer:

D. quasi negotiable instrument

Bill of lading:

• Bill of lading is an important document relating to foreign trade.

• It is issued and signed by master of the ship acknowledging that they undertakes to deliver the goods as per the directions of the Exporter. 

• It is the proof of shipment of goods issued by dock authorities to Exporter.

• Bill of Lading is drawn in sets of 3 on the condition that "one being accomplished, the others Stand void". It is a quasi negotiable instrument.