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How does a warehouse receipt differ from a bill of lading?

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Mosaic portrait of Emperor Justinian I with a jeweled crown and halo, from the 6th-century Basilica of San Vitale in Ravenna, Italy. — Carriage of goods Justinian I, detail of a 6th-century mosaic at the Church of San Vitale, Ravenna, Italy.

While both a bill of lading and a warehouse receipt function as documents of title that embody claims to goods, they differ primarily in their underlying purpose regarding the handling of those goods.12

Bill of Lading: This document is executed by a carrier, such as a shipping line or railroad, to acknowledge the receipt of goods and establish an agreement for their transportation to a specific destination. It serves as evidence of a contract of carriage and, when negotiable, controls possession of the goods during transit.123
Warehouse Receipt: This document shares the essential legal traits of a bill of lading, but the obligation to transport the goods is replaced by an obligation to store them.2

Both documents can be negotiable if they provide for delivery to the order of a stated person, allowing them to be transferred by endorsement and delivery to pass ownership or create a security interest in the goods.12