Article 24. Transfer of Business Between Merchants

1. In the situation where a corporation transfers a business to a merchant, the said corporation shall be regarded as the transferor provided for in Article 16, Paragraph 1 of the Commercial Code and the provisions of Articles 18 & 19 of the same Code shall apply..

2. In the situation where a corporation receives the business of a merchant, the said merchant shall be regarded as the transferring corporation, and the provisions of the previous two Articles shall apply.

Disclaimer: This translation is for general reference purposes only and is provided on an “as is” basis with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed in the USA) shall not be responsible for any consequences resulting from the use of this translation. Reliance must be placed on the original Japanese text of the laws. In the text of the translation article headings are added in parenthesis are not in the Japanese language original and are added only for the purposes of enhanced comprehension.

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