Q.Distinguish between a bill of lading and a bill of exchange.

Both are export documents, but they do entirely different jobs — one concerns the goods and their carriage, the other concerns collecting payment.

The two documents differ in purpose, in who issues them, and in what they achieve:

1. Bill of lading — issued by the shipping company for goods sent by sea. It is a receipt for the goods, evidence of the contract of carriage, and a document of title to the goods. Whoever lawfully holds it can claim the goods at the destination, which is why it is routed through the banks so the importer gets the goods only against payment.
2. Bill of exchange — drawn by the exporter (drawer) on the importer (drawee). It is an order in writing requiring the importer to pay a stated sum, either on sight or on a future date. It is the instrument through which the exporter collects payment through the banking channel. …

Students confuse the two because both are 'bills'. Anchor the difference on function: lading = goods/carriage/title; excha …