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Structural division: Book Three › party › CHAPTER FOUR › SECTION TWO
Article 145 — Legal Mortgage
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ Where a person sells a business and the price of the sale is not fully paid to him, the payment of the price or such part thereof as is still due shall be secured by a legal mortgage on the business sold.
2/ The legal mortgage provided under Sub-Article
(1) of this Article shall not apply unless the sale was made in writing and the mortgage has been registered in the manner provided by the relevant law.
3/ Particulars of the registration of legal mortgage shall be prescribed by special law.