The questions below offer a general framework on mediation and the competent court in commercial lawsuits, commercial books, security, checks, and the assignment of receivables. In a specific case, the time limits, documents, and the regulations in force are assessed separately.
Showing 1–4 of 4 questions
Is a letter of guarantee the same thing as suretyship?
No; a bank letter of guarantee and suretyship are subject to different legal relationships and conditions.
The independent nature of the guarantee, the beneficiary, the addressee, the maturity, the payment condition, and the available objections are determined according to the text of the contract. For suretyship, the special form requirements and the spousal consent rules of the Turkish Code of Obligations are also important.
What steps can be taken if a check is dishonored for lack of funds?
The presentment period, the nature of the check, and the legal enforcement routes should be assessed.
The check leaf, the bank’s presentment endorsement, the chain of endorsements, the status of the legitimate holder, and any applicable special-law provisions are examined together. Collection of the commercial receivable and a possible criminal process should not be confused with each other.
Why is notice of defects critical when goods are delivered between merchants?
Under Article 23 of the Turkish Commercial Code, special inspection and notification rules may apply to merchants.
The identification of an apparent or hidden defect, the delivery date of the goods, and the means by which notice was given should be documented in detail. The notification obligation and the consequences of the seller’s gross negligence or fraud are assessed separately.
Is the debtor’s approval required for the assignment of a commercial receivable?
Unless there is a statutory or contractual obstacle, the transfer of a receivable does not, as a rule, depend on the debtor’s consent.
Under Article 183 and the following articles of the Turkish Code of Obligations, the written form, the identifiability of the assigned receivable, the debtor’s defenses, and the consequences of notifying the debtor are examined. Assignment of a receivable and transfer of the contract as a whole are different transactions.