Since the bond or bill is a frequently used payment instrument in daily life, both in business and in contracts with consumers, the validity conditions of the bill are therefore of great importance.
The bond is regulated in articles 776-779 of the Turkish Commercial Code. Bonds are usually referred to as deed in daily life. Bills are also referred to as written notes and warrant notes.
Bills are bills of exchange as well as policies. The most important difference between the bill and the policy is a regulator, a triple relationship with beneficiary and interlocutor, while there is a bilateral relationship, which regulates bills and beneficiary. The issuer of the bill is the principal debtor and is responsible for the debt as the interlocutor who accepts the policy.
Terms of Validity
Article 776 of the Turkish Commercial Code sets forth the obligatory and optional elements required to be included in the bond and the validity conditions of the deed. In this context, first of all, it is necessary to look at the obligatory elements of the bond.
Obligatory Elements in Bonds
1.Bono Or Emre Written Promissory Words Should Be In Place.
Within the scope of the obligatory elements of the bill, the first point must be mentioned in the promissory note or one of the promissory notes or promissory notes. If the deed is in a foreign language, the equivalent of these words in that language should be in the word deed text.
If a bond has all the necessary elements but the word promissory note does not contain the promissory note or promissory note, then the promised payment is promised. For this, the transfer type must be written in the order and this situation should be written on the deed. Provisions regarding the bond shall also be applied to the written promises of payment. However, foreign exchange tracking cannot be made on the basis of the written promise of payment.
2. There should be an Unconditional Payment Promise.
The second issue within the scope of the obligatory elements of the bill is that according to Article 776/1 of the Turkish Commercial Code, the promise of payment of an unconditional and unconditional price is required for the bond to be valid. It should be stated in particular that the promise of payment in the bond cannot be imposed on any condition. For example, a statement such as ödeme payment will be made when the goods are delivered inde in the text of the bill invalidates the bill. In this context, it is a prerequisite that the promise of payment is not bound to any record or condition for the validity of the bond.
The amount payable is stated on the bill. It is not important where the amount is written on the deed. The promise of payment must relate to a certain amount of money debt. The price in the bill is indicated by both the text and the number, and if there is a contradiction between them, the value shown in the text is respected.
3.The name and surname of the leader should be included.
Another issue under the mandatory elements of the bond should include the name and surname of the person to whom or to whom the bond will be paid. If this person is a legal person, the trade name of the legal person is written as beneficiary in the bond. In this scope, the name and surname of the beneficiary shall be included in the deed in terms of the validity of the bond.
4.Signor’s Signature Must Be Found.
The issuer is responsible for the debt arising from the deed. A document without signature is not legally binding. In this context, another issue within the scope of the obligatory elements of the deed is the signing of the deed by the issuer of the deed. Signature is a compulsory element for the validity of the deed. The signature is handwritten. In terms of the validity of the deed, it is better to have the name and surname written by handwriting, although it is not obligatory for the issuer to write the name and surname along with the signature of the issuer.
5. Arrangement Day must be specified.
Another issue within the scope of the obligatory elements of the bill is the obligation to include the day of issue of the bill or bill. In this context, if a date is not included in the year and it is understood that the date thrown after the expiration of this year will be invalid.
Alternative Items in Bills
Contrary to the aforementioned elements, the absence of alternative elements in the bond does not invalidate the bond. It is a matter of preference whether these records are included in the deed. These alternative elements are;
1st Arrangement Place
According to Article 777/4 of the TCC, it is not obligatory to specify the place of issuance in the bond. If the issuing place is not specified, the issuing name of the issuer shall be deemed as the issuing place next to the surname. However, if there is a place name next to the place of arrangement and the name of the issuer of the deed, the deed becomes invalid. According to the case-law of the Court of Cassation, the fact that the agreed abbreviations appear in the text of the deed without giving any hesitation does not invalidate the deed.
2.Payment Place
According to TCC 777/3, if the place of payment is not shown in the bill, the place where the deed is issued is considered as the place of payment and at the same time the place of settlement of the deed issuer. If the issuing place is not shown in the bill, the issuing place next to the issuer’s name shall be deemed to be the issuing place. If none of these are included in the deed, the deed is invalid.
3.Beded Cash / Malen Taken Registration
In the text of the deed, the records that are paid in cash / cash will not affect the validity of the bond. Such registration does not imply that the deed is free or a reminder.
4. Registration of Registration
No more than one maturity can be applied to bills or other bills. If placed, this will invalidate the deed. In this context, the term bakım other bills will be due if this bill is not paid ın is written in terms of the bonds that are not yet due.
The issuer may make such a record by making a contract other than the foreign exchange relationship arising from the bill and the beneficiary deed. As stated in the due date record, if one of the issued notes is due, the other notes shall also be paid. In accordance with the Civil Procedure Law no. 6100, such agreement must be concluded in writing.
Bonoda Vade
Articles of Turkish Commercial Code Article 703-707 are applied to the bond in terms of maturity. In this context, four maturity types that can be written to the policy can also be written to the bond. However, contrary to the policy, the fact that it is in maturity bonds is not an essential element. It is paid when a promissory note is not seen. It should be stated that the bill to be paid when it is seen or within a certain period of it must be presented within one year from the date of adjustment.
Bills / records that cannot be placed in the year
Linking the promise of payment in the bill to any record or condition invalidates the bill. Such records shall not be included in the promissory notes. However, if some records do not invalidate the deed, the record is deemed not to be written. For example, if the policy has an interest term, this will not invalidate the policy but the interest term will not be written.
Policy Provisions
Since the Turkish Commercial Code is the power of the Swiss Commercial Code and the implementation of the policy in European countries is higher than the bond, the provisions of the Turkish Commercial Code are also dominant. In this context, the policy and the provisions shall apply to the bond provided that it does not contradict the characteristics of the bond.
In this context, 681-690 on turnover of policies, 703-707 on maturity, 708-712 on payment, 713-727 and 729-732 on application in case of non-payment, 734, 738-742 on payment by interruption, 746-747 on repayments, 748 on amendment, 749-751 on statute of limitations, 757-765 on cancellation, 752-756 on account of holidays and times, 766-775 on conflict of laws.
In addition, the articles 674 and 697, 675 on the interest requirement, 676 on the amount to be paid, 677 on the results of the ineffective signature, 678-679, 680 on the signature of the unauthorized person, and 700-702 on the bill are applied to the bond.
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