Thursday, September 3, 2020

Chapter 1. General Provisions

 TITLE V. BUSINESS

 Chapter 1. General Provisions

 

Art. 124. - Definition.

 

A business is an incorporeal movable consisting of all movable property brought together and organised for the purpose of carrying out any of the commercial ac1livities specified in Art. 5 of this Code.

 

Art. 125. - Traders and businesses.

 

1.    Every trader operates a business.

2.    A trader may operate several businesses for the purpose of carrying out various commercial activities. 

3.    A trader may operate a business in the capacity of owner, usufructuary or lessee. Only the person who operates the business shall be deemed to be a trader and the owner or lessor of the business shall not be regarded as a trader.

 

Art. 126. – Principal business and branches.

 

1.    A business may consist of one principal business or of a principal business with branches or agencies which shall be deemed to be part of the business.

2.    The head office of the business shall be at the place where the trader operates his principal business.

3.    Where a branch or agency is sold or let out for hire without the principal being sold or let out for hire, such sale or lease shall be deemed to be a sale or lease of a business and the head office of such business shall be at the place where the assignee or lessee operates the branch or agency.

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