SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What does the South Carolina UCC say about bulk sales at auction?

The UCC has no provisions regarding bulk sales SC UCC Article 6 (Bulk Sales) establishes requirements for notice to creditors and compliance procedures when a business sells a major portion of its inventory outside the ordinary course of business Bulk sales are always prohibited at auction Bulk sales require no special procedures

Correct Answer:

SC UCC Article 6 (Bulk Sales) establishes requirements for notice to creditors and compliance procedures when a business sells a major portion of its inventory outside the ordinary course of business

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