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( 3) In no cue could a commercial agent act, within the space specified in the company settlement, on behalf of merchants who keep it up a commerce comparable to the commerce carried on by the principal. T’he agency agreement could be cancelled and damages may he due where the agent disregards this prohibition.
.shJaJl )Jet he deemed to be merchants. The Bankruptcy Law and the Company regulation of 12th July, 1933, are herehy repealed as from’t,he 11th day of September, 1960. The Commercial Code of 1960, as revealed in a separate volume ap- p.earing as Extraordinary Issue No.three of 1960 of the Negarit Gazeta, shall come into drive on the eleventh day of September, 1960.
quire 1lhe cla.i.m.ant to offer security for costs. ( 3) Directors may not vote on resolutions referring to their duties aDd u.. (1) Where the pursuits of a member, appearing on his personal behalf or OIl be- half of a third get together, conflict with the pursuits of the COInpmy. ( 1) A assembly isn’t legally constituted for taking selections the place there is not a quorum and a majority.
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The lessee might not assign the contract of lease with out the written consent of the lessor, as a contract of lease is made on the basis of the personal qualificiations of the lessee.
the date of coming into drive. ( 4) Any particular person may inside one month acquire a duplicate of or an extract from the register upon fee of the prescribed payment. If the calls are not met, the pledgee might sell the share beneath Art. 342.
- divided into shares and whose liabilities are met only by the belongings of
- is adopted by a vote of shareholders representing no much less than one fifth of
- (1) Provisions could additionally be made within the articles of affiliation or by resolution
- offered for fee witlhln a 12 months of its date.
affiliation. (6) Nothing on this Article shall have an effect on rights of third parties acquired in good religion while the resolution was effective.
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assembly shall not, save in the case of fraud, be invalid merely by cause of the faot that the provisions of this Article haven’t been observed. (2) Auditors is most likely not appointed directors or managers of the corporate which they audit, nor of one of its subsidiaries or its holding company
(2) Creditors shaH be informed of the dissolution of the corporate and requi- red to file their claims with suppOl”ting vouchers. (1) Until winding.up is completed, the company shall retain i,ts legal per. Sonality and name, to which the words “in liquidation” slUin be added. (3) The appointment of liquidators could also be revoked by the general assembly or by the court for good cause on the applying of members or audi-
(3) Where the administrators or auditors fail to call a basic assembly or a gene- ral assembly can not he often held, the court might, on the applica- tion of any fascinated get together, order dissolution. The equality of shareholders shall not he affected by a discount of capital.
date. Where a enterprise organisation is dissolved and wound-up, the liquidators shall apply for the registration of the business organisation within the com- mercial register to be cancelled. The business organisation shall don’t have any authorized persona after cancellation has been published within the Official Com-
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which are in’the nature of video games or playing. The provisions of Section 2 of this Chapter referring to life insurance shall not apply to insurance coverage against accidents or sickness. An insutanee coverage for the occasion of death could also be made by a 3rd celebration. Such policy shall be of no impact except the insured particular person agrees
made in writing and ,the mortgage has been~ in the method supplied hy law in the course of the month wi1hin Wibioh the aaie occurred. (2) MOl’tgage of a business flows from the regulation or a contract. (2) The court shall order the sale by public sale and the value of tthe sale shall be greater by one tenth than the value specifi~ in the contract
mortgage has been registered as provided hy law and ~e chance of bringing an motion f~r cancellation has been entered in the register in which the mor1g~e was registered. ( 1) The proceeds of the sale shall he distributed by settlement or by order
(3) The provisions of this Article shall apply notwithstanding any provision on the contrary within the articles of affiliation. ( 7) The calling and holding of common meetings of debenture holders shall be at the expense of the debtor firm. ( 4) Directors, auditors or workers of the corporate having issued deben.
to a tlhiird celebration who has l4Weed to the pledge. (1) The sequestration of a ourrent account may be effected at any time on the credit score stability, in acoordance with the provisions of the Civil P,rocedure Code.
of their demand, the debtor’s share in the partnership be disposed of. Notwithstanding the provisions of Art. 215, provisions could also be made to the impact that a companion who contributes ability only shall share within the income
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permitted in respect of irimuments unpaid at the da~ of maturity; any agreement to the oonfa’ary shan he ~rded. (2) Such carny ahead might only be set up against Ilhlrd parmes if it has
so require. They shall be personally, jointly amI severally liable in rps- pect of anv business undertaken exterior the boundaries provided on this Ar- ticle. (1) Where an organization is said bankrupt, the winding-up shall proceed underneath the provisions of Book V of this Code.
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Where the collectors’ committee agrees tlltat help be given to the debtor and his family from the bankrupt estate, the commissioner shall repair $eamount of help to he given in accordance with the proposals of the trustees.
(2) ‘I1he provisions of civil legislation shall apply toprescrip1lion of the balance after closure. (2) Restitution aball he made at the place where the deposit was made.
Art. 636, 637 and 638 relating to the carrier’s restricted liability shall not apply. (1) Any declare arising out of a contract of carriage shall be barred after two years from the day when the passengers, items or registered bag- gage have or ought to have arrived at their destination or when their carrying was abandoned.