Is a bill of sale the same as purchase agreement?

+1 vote
asked Nov 14, 2017 in Buying & Selling by Minty (141,500 points)
Is a bill of sale the same as purchase agreement?

1 Answer

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answered Nov 15, 2017 by Shawn (105,070 points)
A bill of sale and a purchase agreement are different things.

A bill of sale is used to legally transfer ownership of something such as a car, boat etc from one person to another.

A purchase agreement is a document that holds someone liable to purchase said object or item in the future.

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