Browse:  A B C D E F G H I J K L M N O P Q R S T U V W Y Z
     
Enter a Legal Term

Search the Definitions

bulk sales acts

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.


From the Law.com Newswire



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications

FEATURED FIRMS

Flager & Associates
1210 Northbrook Dr
Feasterville-Trevose, PA 19053
215-953-5200
flagerlaw.com
O'Malley & Langan PC
201 Franklin Ave
Scranton, PA 18503
570-344-2667
omalleylangan.com
Smith Law Office
5003 Horizons Dr #200
Columbus, OH 43220
614-846-1700
sestriallaw.com

Presented By Big Voodoo