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Definition: An agreement of sale constitutes the terms and conditions of sale of a property by the seller to the buyer. These terms and conditions include the amount at which it is to be sold and the future date of full payment.
The purpose of a sales agreement is to act as a legally binding contract between two parties involved in an exchange of money for goods, services, and/or property. One party is a buyer, while the other is a seller. Both the buyer and seller may be individuals or organizations.
Draw up a sales agreement (also called a "bill of sale") between you and the buyer.