Bill Of Sale

AAA

DEFINITION of 'Bill Of Sale'

A document that details in writing a sale of goods or transfer of property from one party to another. A bill of sale serves as legal evidence that full consideration has been provided in a transaction and that the seller has transferred the rights to the assets detailed in the bill of sale to the buyer.

INVESTOPEDIA EXPLAINS 'Bill Of Sale'

A bill of sale can be quite complex or quite simple, it all depends on the type of transaction. A typical retail purchase receipt can be considered a bill of sale, as it details the specific goods that have been sold to the buyer and the specific price that was agreed to and paid for each.

When conducting transactions for assets worth substantial sums of money, such as an automobile, it is important to make sure the bill of sale is completed properly and obtained at the time of sale.

RELATED TERMS
  1. Cash Transaction

    A transaction that is settled with cash on the same day as the ...
  2. Cash On Delivery - COD

    A type of transaction in which payment for a good is made at ...
  3. Bill Of Lading

    A legal document between the shipper of a particular good and ...
  4. Claused Bill Of Lading

    A bill of lading that shows a shortfall or damage in the delivered ...
  5. Clean Bill Of Lading

    A bill of lading issued by a carrier declaring that the goods ...
  6. Assembly Line

    A production process that breaks the manufacture of a good into ...
Related Articles
  1. Holding Titles On Real Property
    Retirement

    Holding Titles On Real Property

  2. Cut Commissions With
    Home & Auto

    Cut Commissions With "For Sale By Owner" ...

  3. Tax-Efficient Wealth Transfer
    Taxes

    Tax-Efficient Wealth Transfer

  4. Car Shopping: New Or Used?
    Options & Futures

    Car Shopping: New Or Used?

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center