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.

Collins Dictionary of Law © W.J. Stewart, 2006

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that when any ship or vessel which shall have been registered pursuant to that act, or the act thereby partially repealed, shall in whole or in part be sold or transferred to a citizen of the United States, in every such sale or transfer, there shall be some instrument or writing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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

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References in periodicals archive ?

In addition, no exemption from paying transfer fees shall apply for any bills of sale bearing a date preceding that on which the law came into force.

Law on transfer fees amended

Instead of banning the practice the committee is urging the Government to update the laws with bills of sale written in plain English, to have assets registered with credit authorities so buyers know if debt is secured against them and to require a court order and notice before the asset is seized.

WATCHDOG IN BLAST AT 'LOG BOOK' LOANS

Consumer minister Kevin Brennan said: "These bills of sale are archaic and allow vulnerable people's goods to be seized without a court order.

Government ban use of bills of sale

Citizens Advice has seen a doubling in the number of inquiries received about bills of sale during 2008-09.

Archaic loans face the axe

Research wills, probate records, plantation records, bills of sale, land deeds and runaway slave information in old newspapers....

Digging deeper

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.