What document details a shipment and transfers title to a specified party?

• A. Bill of lading
• B. Packing slip
• C. Commercial invoice
• D. Air waybill

Answer: (A)

The main idea is that a document serving as both a receipt for the carrier and a contract of carriage, and that can transfer ownership, is the bill of lading. It details the shipment—who’s sending, who’s receiving, the carrier, voyage or flight, loading and destination points, and a description and quantity of the goods—and it can be endorsed or handed over to the named party to transfer title to them. In practice, this makes the bill of lading the key document for controlling ownership as the goods move, and it often functions as a negotiable instrument so the holder can establish legal ownership.

Packing slips simply list what’s in the shipment and are for accuracy in packing and receiving; they don’t transfer ownership. Commercial invoices are about pricing and payment and help with customs, not title. Air waybills cover the contract of carriage for air transport and shipping terms, but they don’t convey title to the goods.