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B. Contract of Sale

1. COMMON PARTS TO A CONTRACT

Common parts to a contract:

1) Consent (i.e. signature portion)

2) Object (i.e. item sold or transacted)

3) Consideration (i.e. purchase price)

2. MAGIC WORDS

“agreed to the sale”, description of item sold, “transfer ownership and possession”, “deliver”, “pay purchase price”, price

3. REMINDERS

1) Date

2) Parties

3) Signatures 

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