A GENERAL VIEW TO LEGAL CONSEQUENCES OF COMMERCIAL BUSINESS TAKEOVER

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PressAcademia Procedia
Volume:3 Issue:1
A GENERAL VIEW TO LEGAL CONSEQUENCES OF COMMERCIAL BUSINESS TAKEOVER

A GENERAL VIEW TO LEGAL CONSEQUENCES OF COMMERCIAL BUSINESS TAKEOVER

Authors : Cicek Ersoy

Pages : 363-366

Doi:10.17261/Pressacademia.2017.421

View : 11 | Download : 15

Publication Date : 2017-06-30

Article Type : Research Paper

Abstract :Commercial business takeover has various consequences in different legal areas. The paper aims to give very brief information about the legal consequences of commercial business takeover. Briefly, the consequences of the takeover are as follows: loss of merchant title of the seller, transfer of all assets of the commercial business, liability of the buyer regarding the passiva of commercial business, joint liability of the seller and buyer regarding the passiva of commercial business, non-competition agreements, principle of continuity of employment relationship and ban of termination of employment contracts, warranty liability of the seller.
Keywords : Commercial business takeover, business enterprise, merger and acqusition, transfer of property of businesses, joint liability

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