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pursuant to that act, or the act thereby partially repealed, shall in whole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.