If, in cases where the transferee does not continue to use the transferor's trade name, he/she has made public his/her intent to assume the obligations arising out of the business of the transferor, the transferee shall also be liable to repay such obligations.
Laws › Commercial Act › CHAPTER VII TRANSFER OF BUSINESS
Commercial Act — Article 44 (Liability of Business Transferee who has Made Public His/Her Assumption of Obligations)
상법 제44조
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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