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Structural division: Book Three › CHAPTER THREE › SECTION FOUR
Article 134 — Prohibition from Disposing of Proceeds of Sale
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ After the sale, the price of the sale shall not be paid to the seller until the period of time for making applications to set aside expires or, where any such application has been made, until the rights of the creditors have been settled by agreement or by the court and such creditors have been paid.
2/ Unless what has been prescribed under Sub-Article
(1) of this Article is complied with, no payment or assignment of the claim shall affect the rights of the seller’s creditors.
3/ The contract of sale may provide that the buyer shall deposit the price of the sale with a third party. Any such deposit shall discharge the buyer from his liabilities to the seller but the buyer shall remain liable to the seller’s creditors.