Aval in Negotiable Instruments Aval is a personal guarantee provided in favor of a party named in a negotiable instrument. While aval shares similarities with suretyship, it imposes a more stringent liability. The aval giver undertakes to pay the debt guaranteed by the aval. For instance, if the debtor of a check fails to pay...Read More

Statute Of Limitations In Commercial Papers A. COMMERCIAL PAPERS Commercial papers are negotiable instruments that include a promise to pay a certain amount under specific terms and conditions. According to the Turkish Commercial Code, commercial papers comprise promissory notes, bills of exchange, and checks. Each type of commercial paper is subject to specific conditions for...Read More

Annulment Of A Promissory Note A. Promissory Notes Promissory notes are negotiable instruments containing a promise to pay a specific amount under certain conditions and dates. Their validity depends on strict formal requirements, and they are used for payment or credit purposes in commercial transactions. For detailed information about promissory notes and their validity, please...Read More

Essential Elements Of Promissory Notes  Negotiable Instruments and Commercial Papers In commercial law, negotiable instruments are documents that embody rights inseparable from the document itself. Commercial papers are a subtype of negotiable instruments, constituting documents that create specific rights. Types of Commercial Papers Commercial papers are documents promising payment of a specified amount under defined...Read More

Objection to Enforcement Proceedings Initiation of Enforcement Proceedings Enforcement proceedings begin when the creditor applies to the enforcement office. The application is made using a “Request for Proceedings,” which follows the relevant procedure type. Enforcement proceedings for monetary claims are categorized into two groups depending on whether the claim is supported by a court decision:...Read More