Final answer:
The bill of lading is a legal contract that defines responsibility for goods in a company's warehouse. It is applicable to maritime shipping and international trade.
Step-by-step explanation:
The bill of lading is a legal contract that defines responsibility for the goods in the company's warehouse.
It is used in international trade and is applicable to both maritime shipping and other modes of transportation such as air and rail.
The bill of lading serves as an evidence of the agreement between the shipper and the carrier, and it outlines the details of the shipment including the type of goods, quantity, and condition upon receipt.