Directions The following questions consist of two statements. Statement I and Statement II. You are to examine these two statements carefully and select the answers to these items using the codes given below. Statement I A bill of lading is a document of title to the goods. Statement II A bill of lading contains all the terms and conditions agreed upon between the ship owner and the charterer. Codes

• A.                                  Both Statements are correct
• B.                     Both Statements .are incorrect
• C.                     Statement I is correct, but Statement II is incorrect
• D.                     Statement I is incorrect, but Statement II is correct