bill of sale

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Bill of Sale

In the law of contracts, a written agreement, previously required to be under seal, by which one person transfers to another a right to, or interest in, Personal Property and goods, a legal instrument that conveys title in property from seller to purchaser.

bill of sale

n. a written statement attesting to the transfer (sale) of goods, possessions, or a business to a buyer. It is useful to show that the buyer now has ownership and to detail what was actually purchased. A bill of sale may accompany an agreement which states the agreed-upon terms of sale, including the date of transfer, the price, timing of payment and other provisions. (See: contract)

bill of sale

a deed transferring personal property, either outright or as security for a loan or debt; normally not required for ordinary transactions.

BILL OF SALE, Contracts. An agreement in writing, under seal, by which a man transfers the right or interest he has in goods and chattels, to another. As the law imports a consideration when an agreement is made by deed, a bill of sale alters the property. Yelv. 196; Cro. Jac. 270 6 Co. 18.
     2. The Act of Congress of January 14, 1793, 1 Story, L. U. S. 276, provides, that when any ship or vessel which shall have been registered pursuant to that act, or the act thereby partially repealed, shall in whole or in part be sold or transferred to a citizen of the United States, in every such sale or transfer, there shall be some instrument or writing in the nature of a bill of sale, which shall recite at length the certificate of registry; otherwise the said ship or vessel shall be incapable to be registered anew.
     3. In England a distinction is made between a bill of sale for the transfer of a ship at sea, and one for the conveyance of a ship in the country; the former is called a grand bill of sale, the latter, simply, a bill of sale. In this country there does not appear to be such a distinction. 4 Mass. 661.
     4. In general, the maritime law requires that the transfer of a ship should be evidenced by a bill of sale. 1 Mason, 306. But a contract to sell, accompanied by delivery of possession, is sufficient. 8 Pick. 86 16 Pick. 401; 16 Mass. 336; 7 John. 308. See 4 Mason, 515; 4 John. 54 16 Pet. 215; 2 Hall, 1; 1 Wash. C. C. 226.

References in periodicals archive ?
We are offering a free Bill of Sale service until the beginning of March as a way of letting users familiarize themselves with the comprehensive suite of product and service offerings instaVIN has available to help them buy or sell a car.
The citizens of Willow Springs lack this bill of sale and her name, but what they do have is the date on which Bascombe Wade ceded the land to Sapphira, the land which in turn became their own.
Manning, 67, was convicted of two counts of failure to prepare a bill of sale and one count of selling more than 8 ounces to an individual in a 30-day period.
Accordingly, the Sellers have entered into the Bill of Sale with Buyer, pursuant to which Buyer will acquire the assets of Sellers by credit bidding the Debentures based on a starting value of $10,500,000 and adjusted for (a) cure costs of $1,333,000, (b) payments to/refinancing of senior lien holders of $750,000, and (c) assumed liabilities, including accounts payable and employee obligations but excluding cure costs, of $1,612,000, resulting in a final credit bid of $6,805,000.
The defendants say they have complied with the law by getting the signatures of customers on the bill of sale, and under the new law, are being asked to track and stalk their customers.
The transfer of these DPRs will be structured as a 'true sale' pursuant to an origination agreement and bill of sale between the bank and the special purpose company (SPC) covering existing and future U.
The defendants say they have complied with the law by getting the signatures of customers on the bill of sale and, under the new law, are being asked to track and stalk their customers and become police informants.
And when an agency's towing contractor picks up a vehicle donation, it should provide a bill of sale and a release of liability.
A current appraisal or bill of sale is required to insure personal items with Scheduled Personal Property coverage.
So the seventh-grader drew up the contracts - which to us would look like a bill of sale for a car,'' Pogue said.
A copy of the bill of sale and power of attorney signed by the King himself, which authorized the purchase of the car, will also be included with the car as well as others, creating an amazing paper trail which tracks the Lincoln's build to its ultimate delivery to Elvis.
To claim the parrot, Felosky said he will require identification and the bill of sale, and he will ask a set of questions to ensure the person is the real owner.