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Horse Trailer Purchase more questions

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lobbster

Junior Member
Posted below previously.

So, do I need one or the other, which is better, should it be notorized or witnessed or just signed by the buyer and seller?

What is the name of your state?What is the name of your state? Oregon

I am purchasing a horse trailer from a private party. The total purchase price is $4500. I am giving a downpayment of $500 and will make monthly payments of $125.00 until paid in full. No interest will be charged and the title will be transferred upon payment in full.
Can I do this deal with just a promissory note or should I use a note along with a bill of sale? The wording on a bill of sale "FOR AND IN CONSIDERATION OF the execution of a Promissory Note for $________________ and downpayment of $____________ ..." leads me to believe I should use both.
Also, do these two documents need to be notorized and/or witnessed or are the signatures of buyer and seller sufficient?
Thank you in advance.

Michael Lobby
 



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