Thursday, September 3, 2020

Chapter 5. Right to Act as a Trader

 Chapter 5. Right to Act as a Trader

Art. 22. - Freedom to carry on trade.

    Subject to such prohibitions or lawful restrictions regarding unfair competition as may be prescribed, any person or business organization has the right to carry on any trade in accordance with the provisions regulating such trade.


Art. 23. - Legal prohibitions or restrictions.

1.    Particular persons may be restricted or prevented from acting as traders or from carrying on a particular trade by legal provisions setting up prohibitions or incompatibilities.

2.    Specific requirements as to age, qualifications, sex, nationality or license may be

      imposed by law in respect of particular trades.


Art. 24. - Effect of prohibitions and restrictions.

1.    Persons who carry on a trade subject to prohibition or restriction or without having

      the prescribed qualifications shall be liable to the penalties provided by law.

2.    Persons who carry on a trade subject to prohibition or restriction may not invoke

      the said prohibition or restriction to free themselves from liabilities incurred in carrying   

      on a trade subject to prohibition or restriction. They may not hold themselves out to

      be traders to third parties but they shall be liable as though they were traders.


Art. 25. - Associations.

1.    Associations may not carry on any trade.

2.    Any violation of the provisions of sub-art. (1) shall constitute a ground for dissolution under Art. 461 of the Civil Code.


Art. 26. - Business organisations carring on trade

No business organisation shall carry on a trade which it is not permitted to carry on or which is subject to specific requirements with which the said business organisation has not complied.


Art. 27. - Bodies corporate under Public Law.

    The cases where a trade may be carried on by administrative or religious institutions or any other public undertaking and the conditions and effect of such trade shall be prescribed.

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