Recognizing the impetus which a modern code regulating the constitution and activities of all business organizations could give to the further growth of trade and commerce in Ethiopia, a modern commercial code was commissioned to provide a solid foundation for the further refinement of laws treating to the control of all trading, and in particular to the control of the carriage of passengers and goods. Similarly, in view of the further expansion of both foreign and internal commerce, it has been necessary to elaborate laws governing negotiable instruments and banking transactions.
The commercial code is comprised of six books and covers the following topics:
Book I. Traders and Businesses
Book II. Business Organizations
Book III. Carriage and Insurance
Book IV. Negotiable Instruments and Banking Transactions
Book V. Bankruptcy and Schemes of Arrangement
Book VI. Transitory Provisions