Lease agreements could be structured as follows: 1) ordinary leasing agreement 2) lease of a revenue-generating asset agreement. Ordinary leasing agreement is a contract when an owner of movable goods and real property grants another person an exclusive possession of the property in return for a certain price. On the other hand, a lease of...
The commercial enterprise (undertaking) have been regulated in the articles between 11-13 of Türk Ticaret Kanunu (Code of Commerce and hereafter it will be referred to as TTK). According to the TTK, business establishments or factories or other establishments which are commercially operated are deemed as commercial enterprises. If we extend this definition, we can...
In General A contract of work is a controversial contract. The contractor does the work for a certain price in which the work owner has promised. The work owner’s prime debt is to pay this price ( Borçlar Kanunu (Code of obligation- hereafter will be referred to as BK) Art. 364-365). If the parties have...
In General A contract of work is a controversial contract. The contractor does the work for a certain price in which the work owner has promised. The work owner’s prime debt is to pay this price ( Borçlar Kanunu (Code of obligation- hereafter will be referred to as BK) Art. 364-365). If the parties have...
In Turkish law companies are divided into two as capital companies and private companies. Joint stock companies are capital companies and constitute the most appropriate and flexible structure for gaining real and legal entities savings into the economy. In joint stock companies, the company’s management, inspection and representation is executed by the management and inspection...
In Turkish law amongst bill of exchanges, check is the one which is most widely used. Because of this importance in this month’s bulletin we think that it will be beneficial to look into the mandatory, voluntary and alternative components needed to be found in a check in the light of the Courts of Appeal...
In Turkish law consensual divorce is regulated in third paragraph of the article 166 of the Civil Code (Türk Medeni Kanunu- hereafter will be referred to as TMK). According to the law it is possible consensually divorce when the spouses apply for divorce together or when one spouse accepts the divorce suit opened by the...
In this month’s bulletin we are going to cover how the capital stock may be increased with a decision of the general assembly and in what kind of situations these decisions will be invalid for joint stock companies in which we come across in key sectors that bring a large amount of capital such as...
In this newsletter we discuss issues on conditions required for a valid assignment of claims, whether an approval of the debtor is necessary in the transaction and assignment of future claims. The provisions on Transfer of claims are stipulated in articles between 162 and 172 of the Code of Obligation (hereafter will be referred to...
In this bulletin we are going to cover the free zones which not only arouses interest in local investors but also foreign investors too. The free zones are regulated with the Free Zones Act, The Free Zones Implementing Regulation, The Establishment, Duty, Authority and the Working Basis for the Free Zone Managements, the Decision about...
