# Bulk sales law

A state rule that a seller's creditors hear before the assets are sold.

Where it still applies, skipping the notice can leave a buyer answerable for debts they never agreed to take on, which is exactly the outcome an [asset purchase](https://searchspheresource.com/glossary/asset-vs-stock-sale) was chosen to avoid. Most states repealed their version and a few kept rules for particular trades, so this is a question for counsel in the state the business sits in rather than a general answer. Ask it before signing, since the fix is a notice period and notice periods take time.

In numbers: A retailer turning $2.4M a year collects roughly $12k of sales tax a month, so two unremitted quarters is about $72k, and where the notice was skipped that balance can follow the assets to the buyer.

Source: https://searchspheresource.com/glossary/bulk-sales-law
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

Site index for machines: https://searchspheresource.com/llms.txt