bill of sale
document transferring title from seller to buyer; receipt for the sale of something
Bill of sale
≠what are the requirements?A bill of sale is a
legal document made by a 'seller' to a purchaser, reporting that on a specific date, at a specific locality, and for a particular sum of
money or other "value received", the seller sold to the purchaser a specific item of personal, or parcel of real, property of which he had lawful possession. It may take the form of something like the following: ¹For the sum of five hundred clams (C.500,-) I hereby convey to Joe Blow full ownership of a beige Acme whatchamahoozit, serial number DH500-1234567. (Signed) John Doe
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bill of sale
Noun
1. a deed transferring personal property
(hypernym) deed, deed of conveyance, title
(classification) law, jurisprudence
Bill of Sale
a document that transfers title of an asset from a seller to a buyer.
Bill Of Sale
A document under which personal property is transferred from a seller to a buyer.
An agreement in writing, under seal, by which a man transfers the right or interest he has in goods and cbattels, to another. As the law imports a consideration when an agreement is made by deed, a bill of sale alters the property.
The Act of Congress of January 14, 1793, 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that when any ship or vessel which shall have been registered pursuant to that act, or the act thereby partially repealed, shall in whole or in part be sold or transferred to a citizen of the United States, in every such sale or transfer, there shall be some instrument or writing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.
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.
In general, the maritime law requires that the transfer of a ship should be evidenced by a bill of sale. But a contract to sell, accompanied by delivery of possession, is sufficient.
This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.
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