Bulk Sales Acts

Business, Legal & Accounting Glossary

Definition: Bulk Sales Acts

Bulk Sales Acts

What is the dictionary definition of Bulk Sales Acts?

Dictionary Definition

n. state laws (spelled out in the Uniform Commercial Code adopted generally throughout the country) which require a seller of the business including his/her inventory to a) publish notice of the sale, b) give written notice to all creditors, and c) set up an escrow of the funds realized from the sale upon which the creditors can make a claim for a brief period of time. These statutes are intended to prevent a merchant from quietly selling his/her business inventory and disappearing without paying current creditors.

Cite Term

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Page URL
Modern Language Association (MLA):
Bulk Sales Acts. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
February 02, 2023 https://payrollheaven.com/define/bulk-sales-acts/.
Chicago Manual of Style (CMS):
Bulk Sales Acts. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/bulk-sales-acts/ (accessed: February 02, 2023).
American Psychological Association (APA):
Bulk Sales Acts. PayrollHeaven.com. Retrieved February 02, 2023
, from PayrollHeaven.com website: https://payrollheaven.com/define/bulk-sales-acts/

Definition Sources

Definitions for Bulk Sales Acts are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.