COMMERCIAL CODE OF JAPAN
Article 29. Extinguishment of the Liability of the Transferor
In cases where the transferee of a business has liability for the obligations
of the transferor based on the provisions of Article
26, paragraph 1, or of the previous Article, the liability of the transferor
is extinguished after two years against a creditor who failed to demand
or make notification of demand within two years after the transfer of the
business or the advertisement of the previous
Article.
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Article headings are not provided in the Japanese language original
but are provided as it is believed that they assist in the comprehension
of the law
DISCLAIMER: This translation is
for general reference purposes only and is produced on an as isEbasis
with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed
in the USA) is not responsible for any consequences resulting from the
use of this translation. Reliance must be placed
on the original Japanese language text of the law.