bill of sale

(redirected from bills of sale)
Also found in: Dictionary, Thesaurus, Financial.

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that when any ship or vessel which shall have been registered pursuant to that act, or the act thereby partially repealed, shall in whole or in part be sold or transferred to a citizen of the United States, in every such sale or transfer, there shall be some instrument or writing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 ?
While credit has been tight from banks and high street lenders over the past few years, the number of registered bills of sale has risen.
To assist in the identification of the seller of new or used parts, the number of the seller's driver's license, identification card, social security card, or Federal Employer Identification Number shall be included on the bills of sale and/or invoices," the commissioner said.
These include real estate forms, contracts, bills of sale, promissory notes, wills and living trusts, liens, powers of attorney, advanced directives, premarital agreements, receipts, releases, and rental and sale of personal property forms, and information is given on when they are necessary, how to prepare them, and what their legal terms, conditions, and effects are.
Under the amendment, bills of sale which had been submitted before the passage of the law and which were withdrawn after the date on which the law came into effect, are not exempt from the requirement of paying a transfer fee.
All bills of sale are registered at the High Court and lenders covered under the Consumer Credit Act.
Under the loans, also known as bills of sale, lenders advance money secured against the borrower's personal property, typically a car.