Mortgage
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Description
A mortgage must be registered in the Commercial Register. A mortgage does not entitle the mortgagee to take ownership of the business in the event the debt secured by the Commercial Establishment is not paid, but the mortgagee may petition the court for sale of the business. A public auction may be ordered to pay the amount of the debt.
Concept Prerequisite
Wikipedia Reference
Learning Material
Covered in Topic(s)
| Lebanese Commercial Law |