Freight Rate Law and Legal Definition

Freight rate is the compensation to be paid for conveying commodities by truck as well as by barge, aeroplane, or rail. When the term freight rates is used in a highway construction contract, it may apply to the cost of transportation by truck, as well as to the cost of rail transportation. [Lyman-Richey Sand & Gravel Co. v. State, 123 Neb. 674 (Neb. 1932)].