It is apparently common to not be allowed to resell seeds obtained from growing genetically modified plants, as a condition of having the original seeds sold to you. But one might have several thousand dollars worth of such seeds as a business asset, which, if not for the prohibition on resale, could be sold to satisfy creditors.
Do contractual agreements not to sell things survive bankruptcy and prevent those things from being sold off to pay creditors? Or would the things be seized away from the legal person who is bound by the ontract, and only then sold off, free of the contractual encumbrance, by a different entity?
(It might be that in this particular example it is really the lack of a patent license, rather than the presence of a contract term, that prevents the sale. Please ignore that. I am interested in whether contractual terms can prevent asset sales.)
