UAE Commercial Transactions Law

Article 44 — Article (44)

Book One: Trade in General · Part Two: Business Assets, Trade Name, Unfair Competition, Trademarks and Commercial Data · Chapter One: Business Assets, Trade name and Unfair competition: Section One: Business Assets: Article (36)

Notwithstanding the bankruptcy provisions, the seller of business assets who did not receive the full price may invoke vis-à-vis the body of creditors in the buyer's bankruptcy his right to rescind the sale contract of the business assets and recover the same, or his right to lien if he reserved for himself such right and is expressly mentioned in the published contract summary. Nevertheless, such rescission, termination or lien shall take effect only against the elements included in the contract.

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