California Commercial Code – Duties of a Buyer in a Bulk Sale
As an Orange County California business law firm, we believe it is our obligation to keep our small business clients up to date with the latest California Codes that apply to their small business corporations.
California Commercial Code Section 6104 describes the duties of a buyer in a bulk sale.
California Commercial Code Section 1604
§ 6104. Duties of buyer in bulk sale
In a bulk sale as defined in subparagraph (ii) of paragraph (3) of subdivision (a) of Section 6102 the buyer shall do each of the following:
(a) Obtain from the seller a list of all business names and addresses used by the seller within three years before the date the list is sent or delivered to the buyer.
(b) Give notice of the bulk sale in accordance with Section 6105.
(c) Comply with Section 6106.2 if the bulk sale is within the scope of that section.
Make sure that your corporate records accurately reflect the details of the deal.
If you need to talk to a business lawyer about a project such as this, we would be delighted if you would call the IncorporationAttorney at the Law offices of Gale and Vallance (714) 634-4838.