Bulk Sales Law

Business, Legal & Accounting Glossary

Definition: Bulk Sales Law



What is the dictionary definition of Bulk Sales Law?

Dictionary Definition


A law that regulates the transfer of business assets so that business owners cannot dispose of assets in order to avoid creditors. If a business owner wants to conduct a bulk sale of business assets — that is, get rid of an unusually large amount of inventory, merchandise or equipment — the business owner must typically publish a notice of the sale and give written notice to creditors. Then, the owner must set up an account to hold the funds from the sale for a brief period of time during which creditors may make claims against the money. The prohibition against bulk sales is spelled out in the Uniform Commercial Code — and laws modeled on the UCC have been generally adopted throughout the country.


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Bulk Sales Law. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bulk-sales-law/ (accessed: December 03, 2020).
American Psychological Association (APA):
Bulk Sales Law. PayrollHeaven.com. Retrieved December 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bulk-sales-law/

Definition Sources


Definitions for Bulk Sales Law 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: 22nd April, 2020 | 0 Views.