What is a Bill of Sale?
Quite simply- a Bill of Sale is a document that transfers ownership of an asset from a seller to a buyer. A Bill of Sale can be used for any transaction in North Carolina, but its most typically used for the purchase and sale of used cars.
In most cases, the contract is legally binding between buyer and seller as long as the bill of sale follows guidelines that are required in North Carolina. Basically, a Bill of Sale is a receipt of purchase and is therefore somewhat difficult to enforce.
If the Bill of Sale is the only document you use in a transaction, it is best to ensure there is enough detail on it to make the transaction enforceable.