[PDF] [PDF] Commercial Code of the Empire of Ethiopia 1960 - WIPO

[PDF] Civil Code - University of Minnesota Human Rights Library

Copies and extracts of records of civil status CIVIL CODE OF THE EMPIRE OF ETHIOPIA (1) An author cannot object to the translation of his work

[PDF] wwwabyssinialawcom

THE NEW ETHIOPIAN CIVIL CODE FRANKLIN F RUSSELL* of the English translation varies very little from the one which was furnished the present writer in  

[PDF] Commercial Code of the Empire of Ethiopia 1960 - WIPO

manual IlAture as a salesmdll, secretary, accountant, guardian, inspec- tor or director 2) Commercial : mployees are not traders Art 29 - Civil Code applicable

[PDF] Liku Worku Haile A critical analysis of Ethiopian Civil Code: in the

above, the Ethiopian civil code was promulgated giving the Amharic language a force of law and the English translation as being subsidiary Although the work 

[PDF] The Revised Family Code - Refworld

WHEREAS, it has become essential to make the existing Ethiopian family law in accordance 1) Marriage may be concluded before an officer of civil status

[PDF] LAW OF CONTRACT – II - Law Ethiopia

If we see Article 1842 of the Ethiopian civil code the principle of merger in translation improperly says under 1970 sub 2 "receipt for the loan", where it should 

[PDF] Ethiopian Law of Agency - Law Ethiopia

representation in their contract law as that of the English law was that „‟ the The Ethiopian civil code, under the agency law nowhere specifically provides that  

[PDF] Position of the Business Community on the Revision of the

the Commercial Code of Ethiopia and the Revised Draft Version of the Code Article 1 - The relevant provisions of the Civil Code shall apply to all matters which are not in the Code has, we feel, been incorrectly reproduced as “ manual” in the Article 348(4) of the English version is ambiguous, as it seems to state that a 

[PDF] English (pdf)

Commercial Code of Ethiopia Proclamation No 166 of 1960, Negarit Gazeta, Gazette From art 1981 of the Civil Code one can gather that insolvency can exist

[PDF] ethiopian civil code english version

[PDF] ethiopian civil code english version pdf

[PDF] ethiopian criminal code amharic version pdf

[PDF] ethiopian law of contract

[PDF] ethnic demographics france

[PDF] ethnicity in iowa

[PDF] ethos

[PDF] ethyl acetate process

[PDF] ethyl acetate production process flow diagram

[PDF] ethyl alcohol hand sanitizer

[PDF] ethyl alcohol vs isopropyl alcohol for cleaning electronics

[PDF] ethyl alcohol vs isopropyl alcohol for coronavirus

[PDF] ethyl alcohol vs isopropyl alcohol for hand sanitizer

[PDF] ethyl alcohol vs isopropyl alcohol for viruses

[PDF] ethyl alcohol vs isopropyl alcohol reddit

COMMERCIAL CODE

TABLE OF CONTENTS

Commercial Code

TABLE

OF CONTENTS

BOOK I. TRADERS AND BUSINESSES

259

TITLE I. GENERAL PROVISIONS APPLICABLE TO TRADERS

Chapter 1. Provisions applying to persons carrying on a trade

Chapter 2. Traders

Chapter 3. Persons capable of carrying on a trade

Chapter 4. Carrying on a trade by married persons ..

Chapter 5. Right to act as a trader ..

TITLE II. AUXILIARIES AND AGENTS

Chapter 1. Commercial Employees ..

Chapter 2. Managers

Chapter 3. Commercial travellers and representatives

Cha}llter 4. Commercial agents

Chapter 5. Commercial brokers

Ohapter 6. Commissian agents

TITLE III. ACCOUNTS

Chapter

1. Keeping of accounts compulsory

Chapter 2. Books and accounts to be kept ..

Chap.ter 3. Books and accounts admissible eviJence ..

Chapter 4. Keeping of accounts ....

TITLE IV. THE COMMERCIAL REGISTER

Chapter 1. Organisation of the Commercial Register

Chapter 2. Entries in the Commercial Register

Section 1. General provisions ..

Section 2. Registration

Section 3. Alteration of entries and additional entries ..

Section 4. Cancellation of entries

Chapter 3.

Sanctians

Section 1. Penal provisions

Page 1 1 3 4 5 6 7 8 9 12 13 13 13 14 14 17 18 18 19 22
23
23
23

260 COMMERCIAL CODE

TABLE' OF CONTENTS

Section 2. Civil sanctions

Chapter 4. Final provisions

TITLE V. BUSINESSES

Chapter 1. General Provisions

Ohapter 2. Elements of a business ..

Section I. Constituent elements of a husiness ..

Section 2. Goodwill and un,fair commeroial competition ..

Section 3. Trade-names .

Section

4. Distinguishing marks

Section 5. Right to the lease of the premises

Section 6. Patents and literary or artistic copyright Page 23
25
25
26
26
26
27
28
28
29

Chapter 3. Sale a business 30

Section 1. General provision

o •• 30

Secmon

2. Formalities 30

Seetion 3. Dulj"s of the seller. : 31

Section 4.

Duties of the huyer . . 32

Section 5. Publication of the sale and rights of the seller's creditors 32

Chapter 4. Mortgage of a business .. 34

Section 1. General provisions .. 34

Section 2. Mortgage ot the Seller and aCtJion for the cruncellation of the contract of sale 34

Section 3. C, 'ltractual mortgage 35

Section 4. 'Ie ner of registering mprtgages 36

Section 5. ;:, .;hts of secured crreditors 37

Chapter 5. Hire of a business 39

Chapter 6. Contribution of a business to, a business organisation 41

BOOK II. BUSINESS ORGANISATIONS

TITLE 1. GENERAL PROVISIONS

TITLE II. ORDINARY PARTNERSHIP

Chapter 1. General provisions

Chapter 2. Contribntions

Chapter 3. Management of the partnership ..

Chapter 4. Rights and duties of partners ....

45
45
46
47

COMMEIICIAL CODE

TABLE OF CONTENTS

Ohapter 5. Relations of the partnership with, third parts Chapter 6. Dissolution and winding-up of partnership

TITLE III. JOINT VENTURE

TITLE IV. GENERAL PARTNERSHIP

TITLE V. LIMITED PARTNERSHIP

TITLE VI. COMPANIES LIMITED BY SHARES

261
Page 49
50
53
55
58

Chapter 1. General provisions 59

Chapter 2. Formation of the company 61

Chapter 3. Shares and the rights and duties of shareholders .. 66 Chapter 4. Directors, au";itnrs and shareholders meetings 72

Sedion 1. Management 72

Section 2. Auditors 79

Section 3. Shareholders' meetings 83

Paragraph 1. General provisions .. 83

Paragraph 2. Ordinary meetings .. 89

Paragraph 3. Extraordinary meetings 90

Paragraph 4. Special meetings 91

Chapter 5. Debentures 91

Chapter 6. Accounts of companies .. 96

Chapter 7. Amendments to the memorandum or articles of association 100

Chapter 8. Dissolution and winding-up .... 107

TITLE VII. PRIVATE LIMITED COMPANIES

C,hapter 1. Formation and general provisions

Chapter 2. Shares

Chapter 3. Organisation of the company

Chapter 4. Accounts

ChapLer 5. Dissolution

TITLE VIII

CONVERSION AND AMALGAMATION

TITLE IX

BUSINESS ORGANISATIONS INCORPORATED ABROAD

111
113
114
117
117

OR OPERATING ABROAD 121

262 COMMERCIAL CODE

TABLE OF CONTENTS

BOOK m. CARRIAGE AND INSURANCE

TITLE I. CARRIAGE BY LAND

Page

Chapter 1. General Provisions 122

Chapter 2. Transport titles 123

Section 1. Passenger's ticket " 123

Section 2. Luggage ticket 123

Section 3. Transport titles in respect of goods .. 123

Chapter

3. Rights and duties of parties to a rontract of carriage 125

Section 1. Rights and duties of sender and addressee ... . 125 Section 2. Duties of carrier of goods or registered baggage 126 Section 3. Duties of parties to a contract of carriage of persons 127

Chapter 4. Liability of the carrier .. 127

Chapter 5. Legal proceedings 129

TITLE II. CARRIAGE BY Am

Chapter 1. General prov/,Swns

Chapter 2. Transport titles ..

Section 1. Passenger's ticket

Seotion 2. Luggage-ticket

Section 3. Bill of lading

Chapter 3. Rights and duties of sender and addressee

Chapter 4. Liability of the corrier ..

Chapter 5. Provisions applicable to certain forms of transport

TITLE ITI. INSURANCE

Chapter 1. General provisions

Chapter 2. Provisions applicable to all forms of insurance

Section 1. Insurance policy ....

Section 2. Rights and duties of the parties

Section 3. Limi,tation ..

Chapter 3. Insurance against damages

Section 1. Insurance of objects

Section 2. Insurance of liability for damages

Chapter 4. Insurance of persons ....

section 1. General provisions ..

Section 2. Life insurance

130
130
130
130
131
133
135
139
140
140
140
142
144
145
145
146
147
147
147

COMMERCIAL CODE

TABLE Of CONTENTS

TITLE IV. GAMES AND GAMBLING

BOOK IV

263
Page 151

NEGOTIABLE INSTRUMENTS AND BANKING TRANSACTIONS

TITLE I. GENERAL PROVISIONS

TITLE II. COMMERCIAL INSTRUMENTS

Chapter 1. General provisions 156

Chapter 2. Bill 0/ exchanse 156

Section 1. Establishment and form of bills of exchange· 156

Section 2. Negoution of bills of exchange 158

Section 3. Acceptance 161

Section 4. Acceptance for honour 163

Section 5. Maturity

.• 164

Section 6. Payment 165

Section 7. Recourse for non-acceptance or non-payment " 167

Section 8. Intervention for honour

.... 174

Section 9.

Parts of a set and copies .... 177

Section 10. Alterations 178

Section 11. Limttation of actions 178

Section 12. GeneI'll1. provisions 179

Chapter 3. Promissory notes 179

Chapter 4. Cheques 181

Section 1. Drawing and form of a clteqhe '.... 181

Section 2. Negotiation 184 .

Seotion

3. Acceptance for honour (Aval) 186

Section 4. Presentment and paI)'Dlent .. 186

SeoIIion 5. Crossed \lheques and cheques payable in accouilt 188

Section 6. Recourse for non-payment .. 189

Section 7. Parts of a set· 192

Section 8. Altera.tions 193

Section 9. Limitation of actions 193

Section 10. General provisions 194

Chapter 5. Traveller. cheques 195

Chapter 6. Publicity 0/ protest 195

261 COMMERCIAL CODE

TABLE OF CONTENTS

TITLE m. BANKING TRANSACTIONS

Chapter 1. Bank deposits ..

Section 1. »eposit .oUunds

Section 2. traaifers .' ...

Section 3.' Depoak :of securities;·

J ' Page 196
196
197
199

Chapter 2. Hiring of safes 200

Chapter 3. Contracts for current accounts ., 201

Section 1. Definition, oonditions and duration of current accounts "201 Section 2. Effeetsof current accounts .• . . . . 203 Section 3. Effects' of bankruptcy of remitter where commercial instrwnents are discounted and entered in current account

Claapter 4. Discount

Chapter 5. ·Credit transactions

Section 1. Open credits

Section 2. Advance on securities

Section

3. Pledge of securities

Section 4. Documentary credits ......

BOOK V. BANKRUPTCY AND SCHEMES OF

ARRANGEMENT

TITLE I. GENERAL PROVISIONS

TITLE I1 • .)JANKRPETCY ,

Ohapter 1. Judgment in bankruptcy

Chapter 2. Persons responsible for

ceedinss

Secliion 1. The court ..

Section 2. Commissioner in bankruptcy

SecIiion 3. Trustees

Section 4. Creditor's committee

bankruptcy a..pter 3. Provisional and. conservatory measures ..

Section 1. Conservatory measures

Section 2. Seals

Section 3. Inventory ".

pro- 204
205
206
.206 207
207
208
211
215
215
215
216
218
219
220
221
t I.

COMMERCIAL CODE 265

TABLE OF CONTENTS

Page

Chapter 4.

Effect 01 adjudication in bankruptcy 222

Section 1. Effect as regards the debtor 222

Section 2. Management of debtor's property 225

Chapter 5. Proving lor debts 226

Section 1. Procedure for proving 226

Section 2. Parties jointly and severally liable and guarantors 229 Section 3. Rights of creditors secured by a guarantee on movables other than businesses 230

Section

4. Rights of mortagees and creditors secured by im-

movables 231 Section 5. Rights of creditors secured by a mortgage on the business .... 232

Section 6. Recovery 233

Chapter 6.

Settlement 01 the bankruptcy 235

Section

1. Composition 235

Section 2. Compulsory winding-up

240

Chapter 7. Bankruptcy proceedings closed .. 242

TITLE III. SCHEMES OF ARRANGEMENT 243

TITLE IV. SPECIAL RULES CONCERNING BANKRUPTCY

AND

SCHEMES OF ARRANGEMENT WITH RESPECT

TO BUSINESS ORGANISATIONS

TITLE V. SUMMARY PROCEDURE

BOOK VI. TRANSITORY PROVISIONS

Chapter 1. General provisions

Chapter 2. Traders. Businesses. Business organisations Chapter 3. Negotiable instruments and banking transactions

Chapter 4. Bankruptcy ....

255
256
257
257
I h-til hOq "t11l1 n +'

IB!!I q. IJ".

Addis Ababa 5th May 1960

NEGARIT GAZETA

Gazette Extraordinary

n.nll RIDC 1.".1

RJ\.*A"J' .,.,. ... -""'1"'+

'1';1

RK"ihL+ "'I.tll-tC "'mClCl4:t+

,.;1-... ., •• ,;rll;l-"M"t fo'. 137 "''I'C ,. IJ". fClJllJ fh,:,·r-kl ,.,.", tID''''''':'' n"ll: ih"l II

COMMERCIAL CODE OF THE EMPIRE OF ETlUOPIA

PROCLAMATION

No. 166 OF 1960

The edition of this book was published during the 30th year of reign of His Imperial Majesty Haile Selassie I, Emperor of Ethiopia. Berhanena Selam P.inting Press of H.I.M. Haile Selassie I -17-9-52 -No. 2071-52 -5000 n

PROCLAMA TION No. 166 of 1960

THE COMMERCIAL CODE PROCLAMATION OF 1960

CONQUERING LION OF THE TRIBE OF JUDAH

HAILE

SELASSIE I

ELECT

OF GOD, EMPEROR OF ETHIOPIA

WHEREAS the progress of Ol.l,r Empire in the field of commerce requires the codlification of Our commercial laws; and WHEREAS a Commercial Code has been prepared under Our supervisioll and has received the approval of Our Sena'te and Chamber of Deputies; NOW, THEREFORE, in accordance with Articles 34 and 88 of Ou,r Revis pd Constitution, We approve the, resolutions of Our Senate and Charr.twr 0f

Deputies and W c hereby proclaim as follows:

1. This Proclamation may be as the "Commercial Code Proclamation,

1960." .

2. The Commercial Code of 1960, as published in a separate volume ap p.earing as Extraordinary Issue No.3 of 1960 of the Negarit Gazeta, shall come into force on the 11th day of September, 1960. 3. The Bankruptcy Law and the Company law of 12th July, 1933, are herehy repealed as from't,he 11th day of September, 1960.

Done at Addis Ababa this 5th day of May, 1960.

TSAHAFE TAEZAZ AKLILU HABTE WOLD

Deputy Prime Minister and Minister of Pen

III

PREFACE

CONQUERING UON OF THE TRIBE OF JUDAH

HAaE SELASSIE I ELECT

OF GOD, EMPEROR OF ETlUOPIA

In the modem world, IW nati6n can hope to expand iA CO.JReJ'Cial and e(!olWmic life unless there exists a firm legal basis which will cwure the neceaary elemenf$ of stability and security in business transacti6,., wmu at til. I/J1Be tiae providing a sufficiently articulated yet flexible framework within which tnule and commerce may flouris.h and grow. Today, in EthWpiD, the developaent 'of commerce has out grown the provisio,., of thie laws rel4tting to busines. orga.n.isati6ns and bankruptcy which were promulgated during the first y.,.. 01 Our Reign and which were o.:lapted to the commerce and industry of thOse _ly day •• The commercial life of EthWpia has expanded, increosing RUmber. 0/. EthWpiDn and foreign compa. have been for1Mll and registered, ahd mOTe comple% met'*xls of transacting business h4ve been detlf!loped in reo etmJ y.n. RecognUins the impetus whick a modern Code regulating the constitution tm,d of all business organisations could give to the furth.r KrGwth

01 thlde4lUl commerce, We directed the Codific6ti6n Commissi6n created by US

to pF'eptJre " moMrR Commercial Code which would sertHJ for the praent day aa vell as provide a solid foundation for the further refinement of laws Creating of these subjecta.W e have directed that in the expami6n and consolidati6n of Our commerciGl, u.w.. great attenrion should be given to til. control of all trad. J ing, and in pU/.ticular to the control of the carriage of [KUsengers and goods, an aspect of commercial activity which has increased greatly in the last decade. Similarly, in view of the further expansion of both foreign and internal com merce, it has been necessary to elaborate laws governing negotiable instruments and banking transactions. The Commercial Code which is today being promulgated fulfils these requirements. It is grounded in Ethiopia's ancient laws and customs and has .been further extended by reference to the laws of other great commercial powers. We are confident that this Code will fulfil the aspirations of Our Beloved People and will assist in the swift and orderly development of Ethiopia's eC01wmic life. Our Parliament has studied with care and patience the detailed provisions of this Code and what has been approved by it is well suited to the needs of Our Own Country and to those persons and enterprises from other lands who are participating and sharing in the benefits of the commercial life of Our Empire. We are ever mindful that in the all-important task of the codification of Our laws TV e have been g,uided by Almighty God, and that the fruits of this work will underline the principle oj international justice without which no nation can survive or prosper. Givenquotesdbs_dbs11.pdfusesText_17