Bill Of Sale Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Bill Of Sale, written in plain English, along with examples of how it is used.

What is Bill Of Sale?

History and Meaning of Bill of Sale

A bill of sale is a legal document that records a sale of goods, equipment, or personal property between two parties. The document lists the details of the transaction, such as the date of sale, the purchase price, a description of the item or items being sold, and the names of the buyer and seller. Historically, bills of sale were used as a way to transfer ownership of property when written contracts were less common.

Today, bills of sale are still used in many transactions, especially those involving private sales between individuals. They can be used to document the sale of items like vehicles, boats, or livestock, as well as personal property like furniture or appliances.

Examples of Bill of Sale

1. John sold his car to Sarah and used a bill of sale to record the transaction. The bill of sale listed the make, model, and year of the car, as well as the purchase price and the date of the sale.

2. Mary purchased a used refrigerator from her neighbor and requested a bill of sale to document the transaction. The bill of sale included a description of the refrigerator, the purchase price, and the date of the sale.

3. William sold his horse to a local farmer and used a bill of sale to transfer ownership. The bill of sale listed the name and breed of the horse, as well as the purchase price and the terms of the sale.

Legal Terms Similar to Bill of Sale

1. Title: A legal document that proves ownership of property, such as a vehicle or real estate.
2. Purchase Agreement: A document that outlines the terms of a sale between a buyer and seller, similar to a bill of sale.
3. Receipt: A written acknowledgement that payment has been made for goods or services.