Sales Labor Law References

“Bulk sales” laws are intended to prevent business owners from defrauding or evading creditors by transferring all (or a substantial portion) of the assets of the business to another individual or entity. The law is also intended to avert the possibility of businesses selling their assets below fair market value in a “sweetheart sale,” in which the owner of the business manages to maintain a degree of control. For example, the law applies when the business assets are sold to another business that is controlled by the same owner. Virtually all states have adopted the Uniform Commercial Code that gives notice to creditors of bulk transfers of a business’s assets.
Generally, when an existing business incorporates there is no plan to defraud creditors. These companies are simply changing the form of the business, and have every intention of honoring the debts of any previous incarnations. In cases where the corporation receives the assets of the unincorporated business and assumes its debts, the bulk sales law is a mere formality. The corporation is accountable for the debts of the business transferring the assets in proportion to the value of the transferred assets.

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Filed under: Bulk Sales Law by Administrator

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Salaries of sales worker supervisors vary substantially, depending on the level of responsibility the individual has; the person’s length of service; and the type, size, and location of the firm.

In May 2004, median annual earnings of salaried supervisors of retail sales workers, including commissions, were $32,720. The middle 50 percent earned between $25,120 and $43,110 a year. The lowest 10 percent earned less than $20,110, and the highest 10 percent earned more than $58,400 a year. Median annual earnings in the industries employing the largest numbers of salaried supervisors of retail sales workers in May 2004 were as follows:
Building material and supplies dealers $34,210
Grocery stores $31,360
Clothing stores $30,660
Other general merchandise stores $30,150
Gasoline stations $27,510

Compensation systems vary by type of establishment and by merchandise sold. Many supervisors receive a commission or a combination of salary and commission. Under a commission system, supervisors receive a percentage of department or store sales. Thus, supervisors have the opportunity to increase their earnings considerably, but their earnings depend on their ability to sell their product and the condition of the economy. Those who sell large amounts of merchandise or exceed sales goals often receive bonuses or other awards.

Filed under: Bulk Sales Law, Laws and Policies, Lawsuits, Real Estate, Rights, Sales, State Regulations, Telemarketing, Timeshares, Tips, Uncategorized by Administrator