A bill of sale is a legal document that outlines the transfer of ownership of goods or property from one party to another in exchange for a specified consideration, typically money. It includes details such as the item being sold, the purchase price, and the terms of the sale. The document serves as proof of the transaction and protects both the buyer and seller by documenting the agreement. In consideration of the bill of sale, the buyer acquires ownership rights while the seller receives the agreed-upon payment.
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