Vehicles can include cars, trucks, tractors, buses, limousines, and eighteen wheeler trucks, to name a few. A motor vehicle is the most common example. When is a Bill of Sale Needed?Īs previously mentioned, a BoS in modern times is frequently used in the exchange of transportation vessels. The purpose of a BoS is to protect both the buyer and the seller. The document will include the necessary details of the exchange. Traditionally, a bill of sale is initiated by the selling party. For example, a car, watercraft, or motorcycle. Now, a BoS is most often used to track the sale of modes of transportation. Such as food, animals, or raw materials like steel and cotton. Specifically, detailing the goods that were shipped from place to place. Originally, a BoS documented transactions involving shipping. Naturally, as time has progressed bill of sale documents have evolved in content and use. At its foundation, a BoS officially records an exchange of assets. In fact, various drafts of bills of sale documents have been traced back to the middle ages. The concept of a bill of sale (BoS) is centuries old. Read on to find out everything you need to know about the mysterious bill of sale. What does that mean? When do you need one? How do you get one? All of these questions and more will be answered in this article. Occasionally, certain transactions will involve a bill of sale. Swiping a credit card to buy groceries, paying cash for knick-knacks at a garage sale, or exchanging money for various types of services like a doctor’s appointment. Daily life is full of countless transactions.

Simple tractor bill of sale