What does bulk sales law mean?

bulk sales law meaning in Law Dictionary

condition law intended to protect the lenders of a business that's being sold by needing the creditors be informed associated with the purchase.

bulk sales law meaning in Business Dictionary

a-sale, also referred to as a bulk transfer, on most or the whole stock held by a company. Numerous bulk sales should be subscribed with a government company, to be able to make certain that lenders of company tend to be informed regarding the sale and possess an opportunity to seek settlement of every outstanding liabilities of this business.