1. Any person to whom the ownership of the business assets devolves shall, under the Law, subrogate the person who disposed thereof in all the rights and obligations arising from the business assets, unless otherwise agreed or where the contract is entered into on basis of personal considerations. 2. Nevertheless, the second party to the contracts referred to in the previous paragraph may, within (90) ninety days from the date of announcing thereof, request the cancellation of such contracts provided that he has serious reasons to justify such cancellation and he notifies the new owner of his desire to cancel in a timely manner.
Interpretation and application must be checked against the official text and current version.