bulk

Unbroken packages. Merchandise which is neither counted, weighed, nor measured. The aggregate that forms a body or unit. When used in relation to sale of goods by sample, "bulk" means the whole quantity of goods sold, which is supposed to be fairly represented by the sample

@ bulk mortgage

A mortgage on property in bulk. May describe creation of security interest in several items as a whole or in bulk, or a mortgage of more than one parcel of real estate, though a bulk transfer is not a security interest subject to Art. 9 of U.C.C., No. 9-111

@ bulk sale

Any transfer in bulk, and not in the ordinary course of the transferor's business, of a major part of the materials, supplies, merchandise or other inventory of an enterprise. U.C.C. No. 6-102(1). Such transfers are regulated by U.C.C. Article 6 to protect creditors of the transferor.

+ bulk sale

The sale of all or a substantial part of the seller's materials, supplies, merchandise, other inventory or in some cases equipment not in the ordinary course of business. U.C.C. No. 6-102. Statutes prescribe the procedure for such sales because of the danger of fraud on the creditors of the seller.

See Bulk Sales Acts.

A sale of substantially all the inventory of a trade or business to one person in one transaction. Under certain conditions, corporations making a bulk sale pursuant to a complete liquidation will recognize neither gain nor loss on such sale. I.R.C. No. 337(b)(2)

@ Bulk Sales Acts

A class of statutes designed to prevent the defrauding of creditors by secret sale in bulk of all or substantially all of a merchant's stock of goods. Individual state bulk sales acts have been superseded by Art. 6 of U.C.C., "Bulk Transfers"

@ bulk transfers

See bulk sale

- Bulk Sales Acts

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