bill of sale


bill of sale
1) A document by which a person transfers the ownership of goods to another. Commonly the goods are transferred conditionally, as security for a debt, and a conditional bill of sale is thus a mortgage of goods. The mortgagor has a right to redeem the goods on repayment of the debt and usually remains in possession of them; the mortgagor may thus obtain false credit by appearing to own them. An absolute bill of sale transfers ownership of the goods absolutely. The Bills of Sale Acts (1878 and 1882) regulate the registration and form of bills of sale.
2) A document recording the change of ownership when a ship is sold; it is regarded internationally as legal proof of ownership.

Accounting dictionary. 2014.

Look at other dictionaries:

  • bill of sale — bill of sale: a formal instrument for the conveyance or transfer of title to goods and chattels Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bill of sale n. A written agreement that tran …   Law dictionary

  • Bill of sale — Bill Bill, n. [OE. bill, bille, fr. LL. billa (or OF. bille), for L. bulla anything rounded, LL., seal, stamp, letter, edict, roll; cf. F. bille a ball, prob. fr. Ger.; cf. MHG. bickel, D. bikkel, dice. Cf. {Bull} papal edict, {Billet} a paper.]… …   The Collaborative International Dictionary of English

  • Bill of sale — Sale Sale, n. [Icel. sala, sal, akin to E. sell. See {Sell}, v. t.] 1. The act of selling; the transfer of property, or a contract to transfer the ownership of property, from one person to another for a valuable consideration, or for a price in… …   The Collaborative International Dictionary of English

  • bill of sale — (plural ,bills of sale) noun count a written statement describing the sale of something to someone …   Usage of the words and phrases in modern English

  • bill of sale — plural bills of sale n technical a written document showing that someone has bought something …   Dictionary of contemporary English

  • bill of sale — n. a written statement certifying that the ownership of something has been transferred by sale …   English World dictionary

  • Bill of sale — (engl., spr. ßēl), schriftlicher Kaufvertrag, Vertrag über die Verpfändung von Mobilien, die im Gewahrsam des Schuldners belassen werden …   Meyers Großes Konversations-Lexikon

  • bill of sale — An agreement in writing signifying that one person for a specific sum of money has acquired specific assets. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • bill of sale — bill′ of sale′ n. bus a document transferring title in personal property from seller to buyer • Etymology: 1600–10 …   From formal English to slang

  • Bill of sale — 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… …   Wikipedia

  • bill of sale — noun a deed transferring personal property • Topics: ↑law, ↑jurisprudence • Hypernyms: ↑deed, ↑deed of conveyance, ↑title * * * : a formal instrument for the conveyance or transfer of title to goods and chattels * * * a document transferring… …   Useful english dictionary