The statements below are all about the effect on violation of the bulk of sales. Can you please explain them.

Effect of violation of law on transfer.

1. As between the parties. The bulk sales law does not in any way affect the validity of the transfer as between the intermediate parties thereto. A sale not in compliance with the bulk sales statutes is valid against all persons other than creditors.
2. As against creditors. A purchaser in violation of the law acquires no right in the property purchased as against the creditors of the seller. His status is that of a trustee, or receiver for the benefit of all the creditors of the seller. As such, he is responsible for the disposition of the property.