UAE Commercial Transactions Law

Article 175 — Article (175)

Book Two: Commercial Obligations and Contracts · Part Three: Commercial Mortgage

Where the mortgaged item is an instrument and the nominal value of which has not been paid in full, the mortgagor shall, when claiming the unpaid portion, present to the mortgagee the sums of money needed to pay such portion, at least two days before the maturity date; otherwise, the creditor may sell the instrument, pursuant to the procedures set forth in Article (170) above.

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