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Identify the buyer, seller, and the reason for the contract. A bill of sale is a legal document that outlines the terms of your agreement with the buyer.Bills of sale are required to sell a car in 16 states. Along with the full name of both buyer and seller, the first sentence of the contract should also include the reason for the sale. Understanding room rental agreement template is an important thing to create a good and understandable room rental agreement. Here are some parts to know. The seller has 10 days from the date of the sale to submit a Notice of Sale. This process calls for a complete, welldrafted bill of sale. It is important to write up a bill of sale when selling an automobile. The deed of sale is a legal document that proves and records the sale of a vehicle.