Nowadays it is possible to come across that almost all contracts contain penal clauses. The matter of penal clause has a critical importance especially if parties would like to cancel the contact as a result of the economic crises. Besides, the situation is often seen that usually parties have been agreed on excessive penal clauses....

The right of cancellation and stop payment of cheques should only be exercised by a drawer and it was regulated in the section of payment and avoidance payment in the Commercial Code (hereinafter it will be referred to as CC). In recent years, action of cancellation and stop payment of cheques are frequently applied in...

Under Turkish law, the bankruptcy procedures can be categorized as direct bankruptcy method and bankruptcy with enforcement proceeding. In the direct bankruptcy, a creditor or a debtor directly applies to commercial court and claims bankruptcy of the debtor company. However, in the enforcement proceedings with bankruptcy claim, the creditor sends a payment order to the...

Either local, or foreigner, one of the most important legal issues concerning the contractors offering services in construction industry is the validity issues of building contracts, which they might face during the jobs they undertake in return for appartment flats. Before examining this subject in details, briefly defining the concepts of “contract” and “building contract...

With the law enacted in 9.11.2007, nuclear power plant construction and operation issues and principles of energy sales produced therein have been regulated. According to the new Law, the process for nuclear power plant establishment is to be initiated by the Minister. TAEK (Turkish Atomic Energy Authority) shall publish criteria for the companies which may...

According to the Turkish Law on Intellectual and Artistic Works (Fikir ve Sanat Eserleri Kanunu, also known as FSEK), no. 5846, and to the international agreements, the intellectual and artistic works are classified into some specific types such as scientific and literature works, musical works, cinema works, fine artistic works and processed works. The rightful...

In international trade, as a consequence of the nature of business transactions, there are some additional risks facing the buyer and seller, due to not knowing each other well. Different foreign exchange regime applications in both parties’ countries and probable political instability instances are the risk enhancing factors. Usage of banking transactions and technology in...

Commerce has been developing and bearing more importance in our age by means of the effect of globalization. Being indispensable for the economy and development of the countries , the problem concerning international trade is of great importance. Recognition and execution of foreign court’s decrees is one of the most interested matters in commerce for...

Although every marriage is supposed to last forever anyone might need to divorce. Therefore we would like to indicate the divorce causes in the Turkish law. These causes are separated into two main groups: private and general. Adultery, attempt against life, cruelty and serious insult, infamous crime and dishonorable conduct, willful desertion, insanity. General divorce...

A development plan is an essential element in all construction projects which indicates how a building should be built. In a residential area, how a land should be used is determined by means of development plans made by municipalities and in some cases by public entities and ministries. Development plans can be divided into two...