UAE Commercial Transactions Law

Article 47 — Article (47)

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)

1. The mortgage registration in the commercial register shall be sufficient to secure the lien for (5) five years from the date hereof, and the registration shall be deemed cancelled if it is not renewed within the said time limit. 2. The said registration shall be stricken off subject to the mutual consent of the parties concerned or under a final court judgment.

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