Overview

Contracts

Bill of Sale

April 12, 2024

Bill of Sale

A sales and purchase agreement – also known as a SPA- is a legal contract between a buyer and seller that outlines the terms and conditions of a transaction involving the sale of goods or propriety. We typically see these sales and purchase agreements in real estate. Still, it can also be used in other deals when selling a business or equipment. To better understand, you can think about a sales agreement as proof of ownership for a specific land or property.

The SPA is an important document that both parties should carefully consider and review before signing it. Understanding that a sale and purchase agreement does not transfer ownership of the property or goods sold is essential. It creates an outline of the rights and obligations of parties that will protect them in the event of a dispute.

Subjects

Bill of Sale
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