Av. Alparslan LEVENT -Karşıyaka Avukat - İzmir Avukat
Av. Alparslan LEVENT -Karşıyaka Avukat - İzmir Avukat
Av. Alparslan LEVENT -Karşıyaka Avukat - İzmir Avukat

LAW OF OBLIGATIONS

Overview of Turkish Law of Obligations

The Turkish Law of Obligations is primarily governed by the Turkish Code of Obligations (Türk Borçlar Kanunu, TBK) No. 6098, which came into force on July 1, 2012. The TBK provides a comprehensive legal framework for contractual relationships, obligations, and liabilities.

Fundamental Principles

  1. Freedom of Contract: Parties are free to determine the contents of their contract within the limits of the law. This principle allows individuals and entities to create agreements tailored to their specific needs.

  2. Good Faith: Parties must act in good faith during the formation and performance of contractual obligations. This principle aims to ensure fairness and honesty in contractual relationships.

  3. Pacta Sunt Servanda: Agreements legally entered into must be honored. This principle enforces the binding nature of contracts, ensuring that obligations are fulfilled as agreed.

Structure of the Turkish Code of Obligations

The Turkish Code of Obligations is divided into two main parts:

  1. General Provisions: This part includes general principles applicable to all types of obligations, such as the formation, performance, and termination of contracts, as well as liability for damages.

  2. Special Provisions: This part deals with specific types of contracts and obligations, such as sales, leases, employment, and agency agreements.

Types of Obligations

  • Contractual Obligations: Arising from agreements between parties, these obligations are defined by the terms of the contract.

  • Tortious Liability: Obligations arising from wrongful acts that cause harm to others. The liable party must compensate for the damage caused.

  • Unjust Enrichment: When one party is unjustly enriched at the expense of another, they are obliged to return the benefit received.

Contract Formation

  • Offer and Acceptance: A contract is formed when one party makes an offer, and the other party accepts it. Both offer and acceptance must be clear and definite.

  • Capacity: Parties entering into a contract must have the legal capacity to do so, meaning they must be of legal age and sound mind.

  • Consent: The consent of the parties must be genuine, without any form of coercion, mistake, or fraud.

Performance of Obligations

  • Fulfillment: Obligations must be performed in accordance with the terms of the contract. Proper fulfillment discharges the obligation.

  • Non-Performance and Remedies: If an obligation is not performed, the affected party may seek remedies such as specific performance, damages, or termination of the contract.

Termination of Obligations

  • Agreement: Parties may mutually agree to terminate a contract.

  • Completion: Obligations are terminated upon complete performance.

  • Impossibility: If the performance of an obligation becomes impossible due to unforeseen circumstances, the obligation is terminated.

Conclusion

The Turkish Law of Obligations establishes a comprehensive and organized legal framework that governs the rights and obligations arising from contractual and non-contractual relationships. A thorough understanding of its principles and rules is crucial for anyone involved in legal transactions within Turkey, ensuring compliance and effective management of legal risks.