![]() A contract to complete an illegal act is not binding. The contract is also valid only if it is lawful. Usually in a numeric and written form.Īcceptance: Signatures of both parties on the bill of sale.Ĭompetent Parties and Legal Intent: Both parties entering the contract must be competant (age, mental capacity, and not impaired or forced). May also include conditions of the sale for the buyer and the seller.Ĭonsideration: The amount of money being exchanged. Offer: The agreement to exchange the vehicle for an amount of money. Each state has different rules for what they consider a valid bill of sale, but a contract itself must abide by the following rules: What Does a Bill of Sale Need to be Valid?Ī bill of sale acts as a contract between the buyer and seller of a horse. A Horse Bill of Sale Form is a fillable sales agreement completed to record that a buyer paid a specified amount of money to receive ownership of a horse from a seller. In short, a properly executed Bill of Sale will protect you from future liabilities. Whether you giving or receiving cash for an item, you want proof of the transaction in the event someone makes a claim against ownership (if you are the buyer) or if someone is injured on the horse (if you are the seller). There is one general reason why you want to get a Bill of Sale when purchasing or selling a horse:ġ. We suggest securing a valid bill of sale to properly document the sale including the sales price, buyer and seller warranties and details regarding the health condition of the equine. ![]() When purchasing or selling a horse you always want to document the transfer of equine from the seller to the buyer. ![]()
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