What is a bill of sale? What purpose does it ...

[itsmyluck]

What is a bill of sale? What purpose does it serve?

Question 2

Punitive damages are generally recoverable in contract actions.
  Indicate whether the statement is true or false

[jackie]

Answer to Question 1

A bill of saleprovides written evidence of one's title to tangible personal property. If a person's title is questioned, such evidence is highly desirable. If an individual buys a stock of merchandise in bulk, livestock, jewelry, furs, or any other relatively expensive items, the buyer should demand a bill of sale from the seller. The bill of sale serves two purposes:
1. If the buyer wishes to resell the goods, and the prospective buyer demands

proof of ownership, the bill of sale can be produced.

2. If any question arises as to whether the buyer came into possession of the

goods legally, the bill of sale is proof.

Answer to Question 2

FALSE