{"schemaVersion":1,"recordType":"legal-article","id":"law:eri:code:civil:2015:article:2540","workId":"law:eri:code:civil:2015","expressionId":"law:eri:code:civil:2015:en","title":"Instrument Granting Hypothec","number":"2540","language":"en","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2540/","hierarchy":{"book":"BOOK VI - SPECIAL CONTRACTS","title":"TITLE IV - CONTRACTS FOR THE PROVISION OF SECURITY","chapter":"Chapter 3. - Immovable Hypothecs","section":"Section 1. - Creation of Hypothec","paragraph":null},"paragraphs":[{"id":"p1","number":"1","text":"The contract or other agreement granting a hypothec shall be of no effect unless it is made in writing.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2540/#p1","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":701,"url":"https://eriatlas.com/sources/civil-code-2015/page/701/?article=2540&paragraph=p1#article-2540-p1"}]},{"id":"p2","number":"2","text":"It shall be of no effect unless it specifies the amount of the obligation secured or, when this amount has not yet been determined, the maximum amount for which recourse may be taken against the hypothec.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2540/#p2","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":702,"url":"https://eriatlas.com/sources/civil-code-2015/page/702/?article=2540&paragraph=p2#article-2540-p2"}]},{"id":"p3","number":"3","text":"In the instrument creating hypothec the hypothecary creditor must elect domicile in Eritrea.","canonicalUrl":"https://eriatlas.com/law/civil-code-2015/article/2540/#p3","sourceTargets":[{"sourceId":"civil-code-2015-en","pdfPage":702,"url":"https://eriatlas.com/sources/civil-code-2015/page/702/?article=2540&paragraph=p3#article-2540-p3"}]}],"caution":"This is the 2015 English-language edition attributed in its front matter to the Ministry of Justice. Eri Atlas has not independently verified the translation, later changes, or whether the text is currently in force. Nine passages are incomplete in the available scan and are identified where they occur."}