What is a bill of sale?
A bill of sale is a type of receipt used to transfer the ownership of an item. It typically includes important information about the purchase such as the names of the buyer and seller, contact information, item description, item price, payment methods and warranty details.
How to use it?
Bills of sale may be used in a wide variety of transactions: people can sell their goods, exchange them, give them as gifts or mortgage them to get a loan. It can only be used:
-To transfer ownership of goods that people already own
-To transfer ownership of moveable tangible goods
-By individuals and unincorporated businesses
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