The Bulk Sales Acts in Place in Some Provinces Are

question 58

Multiple Choice

The bulk sales acts in place in some provinces are designed to do which of the following?

• A) To set minimum statutory standards for goods sold by description in large, unpackaged quantities
• B) To provide relief to commercial purchasers when a ship's cargo is destroyed
• C) To enable commercial debtors to sell their products at a reduced price in order to pay back their creditors in a more timely way
• D) To give priority to creditors who are owed money in respect of inventory sold to the debtor within the last 30 days
• E) To prevent merchants from selling all or almost all of their business's assets before a creditor can take action to stop them

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Definitions:

Glycogen

The principal storage polysaccharide in animal cells; formed from glucose and stored primarily in the liver and, to a lesser extent, in muscle cells

Cellulose

A structural polysaccharide consisting of beta glucose subunits; the main constituent of plant primary cell walls.

Starch

A polysaccharide composed of alpha glucose subunits; made by plants for energy storage.

Glycogen

A multi-branched polysaccharide of glucose that serves as a form of energy storage in humans, animals, fungi, and bacteria.