The Legal Nature of Representations and Warranties in Share Purchase Agreements
Introduction In a share purchase transaction of stock corporations, the assets, management or actives and passives of the company are not directly transferred, instead, the partnership rights over the company is transferred. The legal nature of the share purchase transaction is not transfer of an asset, it is a transfer of a right.
Receivable Rights in the Context of Capital Contribution
Introduction Arguably, one of the most important principles of joint stock companies is the principle of capital maintenance. This principle is one of the founding principles of Turkish Commercial Code No. 6102 (“TCC”), as well as being one of the principles adopted in the Civil law countries along with the legal capital system.[1] The two …
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Interim Injunctions Under Competition Law: The Turkish Competition Board’s Retailers, WhatsApp and Trendyol Decisions
Introduction Pursuant to Article 9/4 of the Law on Protection of Competition (“Law No. 4054”), “where serious and irreparable injuries are likely to occur before the final decision, the Board may take interim measures in order to maintain the situation before the infringement, without exceeding the scope of the final decision.” Accordingly, the Turkish Competition …
Constitutional Court Decided That Lack of Jurisdiction Decision Rendered due to Arbitration Agreement Does Not Violate the Right to Property
Introduction It is well known that the existence of a valid arbitration agreement in dispute resolution eliminates the jurisdiction of the courts. If, despite the existence of a valid arbitration agreement, one of the parties takes the dispute to court and the opponent party raises objection to the jurisdiction, the court must decide that it …
What are the punishments for forging documents to apply for a bank loan?
What constitutes forgery: ‘Forgery’ refers to the action of forging or producing a copy of a document, signature, banknote, or work of art etc. An act of forgery can lead to charges of fraud and or misrepresentation in the UAE. Article 216 of the Federal Law number Federal Law No. 3 of its 1987 concerning …
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How to Check If You Are Part of the Social Media Data Breach?
Data breach have become quiet a common feature of today’s time of hyper online connectivity. This can lead to situation of your data getting stolen or instances of data breach and privacy violations, whether intentional or otherwise. In this article we will take you through the main points that are to be considered to avoid …
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How will the new zero-tolerance drunk driving law affect your car insurance?
You might have come across the recent changes in the UAE federal laws that has relaxed the previous rules which imposed strict license requirements for the purchase of alcohol in the region. Albeit such rules have now been removed, however, the UAE still follows and applies zero tolerance when it comes to alcohol consumption while …
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What are the charges of trafficking and promoting narcotics substances in the UAE?
All citizens, residents and tourists to the United Arab Emirates must be aware of the non-tolerance for drugs in the region. The UAE has a strict drug policy and laws in place which enforce ‘zero tolerance’ for drugs. The Federal Law no. 14 of 1995 on the countermeasures against narcotic drugs and psychotropic substances (‘Narcotics …
How Theft is Considered as Felony?
‘Theft’ under the UAE laws is governed pursuant to the provisions of the Federal Law No. 3 of 1987 promulgating the penal code and its amendments (‘UAE penal code’). Pursuant to articles 399 and 405 of the UAE penal code, the crime of theft is said to occur when intentional misappropriation of property happens with …
Learn More: Rental Contract Updates in the UAE
The tenancy laws in the emirate of Dubai are subject to the rules and regulations of the Real Estate Regulatory Agency (RERA), which constitutes the regulatory arm of the Dubai Land Department (DLD). Speaking of tenancy laws in the UAE, one would often come across tenancy terms such as ‘EJARI’. EJARI is an online program …
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