also, personal property usually refers to the sale of goods rather than the sale of services. this definition of personal property is important in a contracts setting, since there are different contracts requirements for the sale of personal property as opposed to other items. personal property contracts may be used in order to govern a sale of goods. regardless of the subject matter of the sale, it’s always good to form a contract, so that the parties have a record for the transaction. personal property sales contracts usually require the satisfaction of some basic elements in order to be considered legally valid.