Which statement correctly distinguishes a bill of lading from a charterparty?

Which statement correctly distinguishes a bill of lading from a charterparty?

• A. A bill of lading evidences receipt of goods and is a contract of carriage, and often title; a charterparty is a contract between the shipowner and a charterer governing use of the vessel, including freight and laytime.
• B. A bill of lading evidences receipt of goods, but a charterparty is only an insurance agreement.
• C. A bill of lading evidences ship repairs; a charterparty evidences cargo ownership.
• D. A bill of lading governs use of the vessel; a charterparty proves cargo ownership.

Answer: (D)