Shipment Contract
/ˈʃɪpmənt ˈkɒntrækt/
Definitions
- (n.) A contract in which the seller fulfills delivery obligations by handing goods over to a carrier for transmission to the buyer.
Under the shipment contract, the risk passes to the buyer once the seller hands the goods to the shipper.
Forms
- shipment contract
- shipment contracts
Related terms
See also
Commentary
In shipment contracts, delivery to the carrier suffices to complete seller's duties, distinct from destination contracts where delivery at a specific place is required.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.