Most guys will give you a signed bat, ball, photo, whatever in a trade for the ball. If somehow the guy got into the Hall, that signed bat (especially if it said something in regards to catching the home run) would likely be just as valuable as the ball itself. Signing a contract for a ball disgusts me, that's just low. The ball will likely never be sold, so there probably isn't any money attached to it anyways. There's no need for red tape and official law documents over this kind of thing and if we ever reach that day I'm giving up on baseball.
That said, it would be nice if there was some unofficial code of etiquette where this stuff is concerned. I can say with full confidence, if it were me I'd just give him the ball and whatever he wanted to give me in return (if anything) is his call. If I had a kid or something with me I'd probably try to get the kid into the clubhouse to meet the guy or something but that would be the extent of it. I think it should be considered poor etiquette to request autographs/equipment of other players. Asking for something in exchange from the actual player seems fine to me, same for tickets, but asking for both is getting a bit greedy.
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