When lands, tenements, or hereditaments are sold or leased at public auction and the auctioneer, his clerk or agent makes a memorandum of the property and the price thereof at which it is sold or leased, the terms of sale, the name of the purchaser, or lessee and the name of the person on whose account the sale or lease is made, such memorandum is a note of the contract within the meaning of Section 8-9-2.
(Code 1852, §1552; Code 1867, §1863; Code 1876, §2122; Code 1886, §1733; Code 1896, §2153; Code 1907, §4290; Code 1923, §8035; Code 1940, T. 20, §4.)
Terms Used In Alabama Code 8-9-3
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC