What are the Mandatory Elements of the Deed

“The form requirements of the bond are in accordance with Article 776 of the Turkish Commercial Code No. 6102, which is in force as of the date of issuance of the deed. it is counted in the article.

These are; The phrase ”Bond“ or ”emre muharrer senet”, the promise to pay a certain price unconditionally, the maturity, the payable place, the beneficiary, the place and date of arrangement, the signature of the organizer.

If one of the mandatory conditions is missing, the bond nature of the deed is lost.

Of these, the maturity date and the place of pay are not the main form requirements. In addition to the mandatory shape requirements, there are also optional conditions. Optionally, interest may be placed on the bond, the amount of which is received in cash or in cash, or authorized court records.”

The relevant article of the Commercial Code is as follows;

“Promissory Note or Promissory Note Written to the Order
A) Elements

ARTICLE 776-

(1) A bond or a promissory note written to the order;

a) The word “bond” or “promissory note written to the order” is used in the text of the promissory note, and if the promissory note is written in a language other than Turkish, the word used in that language as the equivalent of the promissory note written to the bond or order,

b) The promise to pay a certain price indifferently and unconditionally,

c) The due date, d) The place of pay,

e) The name of the person to whom or to whose order it will be paid,

f) Date and place of issue,

g) Includes the signature of the organizer.

B) Absence of elements

ARTICLE 777- (1) A promissory note that does not contain one of the elements specified in Article 776, except as written in the second to fourth paragraphs, is not considered a promissory note.

(2) A bond whose maturity has not been shown is considered a bond that must be paid when it is seen.

(3) If there is no clearance, the place where the deed is issued is considered the place of payment and also the place of settlement of the payer.

(4) A bond that does not show where it is issued is considered to be issued where it is written next to the name of the issuer.”

GENERAL ASSEMBLY OF LAW 2017/714 E. , 2017/639 K.
“text of jurisprudence”
COURT : Executive Civil Court

Bakırköy 2 At the end of the trial between the parties for the voluntary complaint “cancellation of the pay order and follow-up and objection to the signature” Dec 18.03.2015 day and 2014/1216 E. Issued by the Executive (Civil) Court on the acceptance of the request and the cancellation of the follow-up, 2015/272 K. decision No. 12 of the Court of Cassation on the appeal of the creditor’s deputy. The day of 05.10.2015 of the Legal Department and 11759.2015 of the E., 2015/23041 K. by his numbered decision;
“Debt, bills in pursuit of specific lien with the way the payment after receipt of executive order apply to the court in the period; in addition to the objection to the signature on the voucher, cash receipt of the promissory note of the price although it is written that the transfer of shares received in exchange for the qualification of foreign exchange due to claims that it is citing you have requested the cancellation of the disappearance enforcement proceedings; the court below by its commitment did not have to pay a price which forms the basis of the unconditional bond since the collection of the judgment on the grounds that it was decided to require the cancellation of enforcement proceedings.
As adopted in the decisions of the HGK dated 14/03/2001 and numbered 12-233/257 and again dated 20/06/2001 and numbered 12-496/534; the claim that the underlying document is a guarantee deed must be proved by writing on the deed of which relationship it is a guarantee or by a written document. If a written document is submitted, in accordance with Article 169 / a of the IIK, it is mandatory to explicitly cite the basis of follow-up in the document in the year.
The form requirements of the bond are in accordance with Article 776 of the Turkish Commercial Code No. 6102, which is in force as of the date of issuance of the deed. it is counted in the article. These are; The phrase ”Bond“ or ”emre muharrer senet”, the promise to pay a certain price unconditionally, the maturity, the payable place, the beneficiary, the place and date of arrangement, the signature of the organizer. If one of the mandatory conditions is missing, the bond nature of the deed is lost. Of these, the maturity date and the place of pay are not the main form requirements. In addition to the mandatory shape requirements, there are also optional conditions. Optionally, interest may be placed on the bond, the amount of which is received in cash or in cash, or authorized court records.
As accepted in the established Supreme Court Case Law and teaching, one of the selective elements specific to bonds is the “price record” to show the reason on which the debt arising from the basic debt relationship is based. To reiterate, the ”price record” is one of the discretionary records of the foreign exchange bill. This record serves to prove that the depositor (borrower) has received the counterclaim from the beneficiary (creditor) of the deed. In fact, from the point of view of the law on foreign exchange, these records have no meaning and significance. Because with the regulation of foreign exchange, a strong debt relationship is created. Therefore, it does not matter whether counteraction is obtained or not. The existence or absence of the price record, which appears as a reflection of the basic debt relationship in a word, does not affect the bond nature of the note (HGK 2003/19-781 E, 2003/768 K.).
In a concrete case, the word “cash” has been placed on the front side of the bond on which the enforcement proceedings are based and the follow-up creditor has it as such. This statement does not stipulate the collection of the deed, nor does it reflect a statement of will that this document was issued for collateral. Therefore, in a concrete case, it is not the case that it requires a judgment whether the stock will be collected or not. These words, which indicate the reason for the debt and the purpose of issuing the promissory note and consist of explaining the basic debt relations, do not affect the bond nature of the promissory note. In this case, the explanations related to the actual debt relationship are included in the promissory note, Article 776 of the Turkish Commercial Code. in accordance with the article, since it will not affect the nature of the bond, the basis of follow-up is in the form of foreign exchange notes containing the legal elements of the bond.
Therefore, the court’s decision on the cancellation of the appeal against the debt based on the claim that the deed is not foreign exchange qualified and the basis of the objection to the signature should be made according to the conclusion to be reached by examining the basis of the conclusion, while accepting the appeal with a written reason that is not appropriate for the concrete event and canceling the follow-up is incorrect …”
at the end of the retrial, the court resisted the previous decision by overturning the grounds and turning the file back to its place.

DECISION OF THE GENERAL ASSEMBLY OF JURISPRUDENCE

After it was understood that the decision to resist was appealed during the examination by the General Assembly of the Law and the papers in the file were read, the requirement was discussed:
It is necessary to comply with the mutual claims and defenses of the parties, the minutes and evidence in the file, the decision to overturn the Special Chamber adopted by the General Assembly of Law according to the mandatory reasons described in the decision to overturn, while resisting the previous decision is contrary to the procedure and law.
Therefore, the decision to resist must be overturned.
CONCLUSION: It was decided unanimously on 05.04.2017 that the decision of the creditor’s deputy to resist with the acceptance of appeals would be OVERTURNED for the reasons shown in the decision of the Private Office to overturn, if requested, the advance fee of the appeal would be returned to the depositor, the decision would be open for correction on 05.04.2017.

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