Sell Law and Legal Definition
Sell means to exchange possession and ownership of goods or property for money or something of value. A bill of sale is a document that transfers ownership of an asset from a seller to the buyer, a basic agreement for sale of goods, and a sales receipt.
Most bill of sale forms require the following information:
- Amount of consideration paid for the transfer of title and date of purchase.
- Name and address of Seller
- Name and address of Buyer
- Specific information about the asset being transfered from the seller to the buyer.
- Guarantee from the seller that the item is free from all claims and offsets.
- Any representations or warranties
- Signature of the seller(s)
- Signature of a notary public.