A bulk sale, as defined by provincial statutes, is a sale
A) of essentially all the stock- in- trade, fixtures, and chattels of a business.
B) whose purpose is to deprive creditors of their equitable share in the assets of the company.
C) of all goods in process and semi- finished inventories.
D) of such a large portion of the assets that the business will cease to operate.
E) governed by the federal Bulk Sales Act.

Question

Quizplus · Accepted Answer

A bulk sale is defined as the sale of essentially all the stock-in-trade, fixtures, and chattels of a business. It is commonly used in the sale of a business or when a business is transferring ownership.

A Bulk Sale, as Defined by Provincial Statutes, Is a Sale