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Simple English definitions for legal terms

bulk sales law

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A quick definition of bulk sales law:

Bulk sales laws are rules that apply when someone wants to sell a lot of things all at once. These rules help make sure that the buyer is not responsible for any unpaid taxes or debts that the seller might have. Some states still have these rules, but most use a different set of rules called the Uniform Commercial Code. If you want to sell a lot of things at once, you might need to follow these rules to make sure everything goes smoothly.

A more thorough explanation:

Bulk sales laws are rules that apply to the sale of a large amount of goods or assets by a business. These laws may have special procedures that buyers and sellers must follow during the transaction. The purpose of these laws is to protect buyers from being held responsible for any unpaid debts or taxes owed by the seller.

For example, in the State of New York, if a business is selling a large amount of inventory or assets, they must give all potential buyers a notice called Form TP-153. The buyer must also notify the Tax Department of the sale by filing Form AU-196.10. This helps ensure that the buyer will not be held responsible for any unpaid taxes or debts owed by the seller.

Although bulk sales laws have been replaced by the Uniform Commercial Code in most states, some states still have notification requirements in place. It is important for buyers and sellers to be aware of these laws and follow them to avoid any legal issues.

bulk sale | bulk transfer

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i have a brother named jack, so whenever i see your name im marginally happier than normal
babycat
16:37
I'm guessing you don't have a sibling named babycat but I hope I still make you marginally happier than normal despite this
JumpySubsequentDolphin
16:38
maybe he has a babycat
babycat
16:38
I think everyone should have a babycat
JumpySubsequentDolphin
16:39
im allergic to baby cats >:(
JumpySubsequentDolphin
16:40
I used to have a babycat, I only got allergies after he died
JumpySubsequentDolphin
16:40
I think he’s haunting me
babycat
16:40
:(
babycat
16:40
that's too bad
babycat
16:40
you still have me though <3
@babycat: you make my day marginally happier with your scathing wit
16:43
New Father John Misty album out today
16:44
People saying it’s his best yet by far
babycat
16:45
what would I do without you renard99
awww ty wasp :)
i have 4 (baby) cats!
16:46
Damn you know her sarcasm is meant to be scathing when she calls me by my full username and not just Renard
JumpySubsequentDolphin
16:47
@jackfrost11770: FOUR?!??
16:48
I’m only teasing Babycat ily I’ll be seeing you in [REDACTED] very very soon
YES
and they're all rescues from breeders so they're all long haired persians .... w flat faces ....
they're all runts cause breeders just ... dispose of them (:(((() so they're all super tiny
literal babies
babycat
16:49
ily2 renard99
initiallaw
16:49
omg so cute
JumpySubsequentDolphin
16:51
@jackfrost11770: IM SO JEALOUS
2big2fail
16:52
perhaps peggerdine this evening
2big2fail
16:52
but then again, perhaps not
JumpySubsequentDolphin
16:53
damn no ucla wave
16:56
Hey guys! chance me 340/340GRE- 2 years work experience at PIL and wrote compelling statements. but my masters gpa is kinda 3.1 because I was domestically abused. :p
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