Commercial activities in Türkiye are governed by the Türk Ticaret Kanunu (Turkish Commercial Code). This code encompasses various matters such as commercial transactions, establishment and operation of commercial companies, trade registry, commercial books, rights and liabilities of merchants, and more. Here are some important aspects to consider regarding commercial law and disputes in Türkiye:
Commercial Enterprise: According to the Türk Ticaret Kanunu, a person engaged in commercial activities is considered a merchant. A commercial enterprise consists of material and legal elements with the purpose of conducting commercial activities on a continuous basis. Commercial enterprises can be organized in various forms such as sole proprietorships, limited liability companies, joint-stock companies, and more.
Commercial Books: The Commercial Code stipulates that commercial enterprises must keep certain books. These books, generally referred to as commercial books, include records of income and expenses, inventory, and accounts receivable and payable. It is essential for commercial enterprises to maintain these books accurately and systematically.
Rights and Liabilities of Merchants: The Türk Ticaret Kanunu also regulates the rights and liabilities of merchants. Merchants are obligated to conduct their commercial activities in accordance with the principles of honesty, timely fulfill their business obligations, and fulfill their tax liabilities. Additionally, merchants must fulfill legal obligations such as registering with the trade registry and making required notifications.
Commercial Disputes: Commercial disputes in Türkiye can be resolved through legal proceedings in commercial courts based on the Türk Ticaret Kanunu. Commercial cases cover disputes arising from commercial transactions, debt claims, breaches of commercial contracts, and other commercial matters. Legal processes and procedures are applied to protect the rights of the parties and resolve disputes in commercial litigation.
Commercial Contracts: Commercial transactions in Türkiye often involve the use of commercial contracts, which regulate the rights and obligations of the parties. The Türk Ticaret Kanunu sets forth the requirements for the validity and content of commercial contracts. It is important for parties to commercial contracts to document their agreements in writing and carefully review and understand the terms and conditions.
The Türk Ticaret Kanunu addresses various aspects of commercial law, including the establishment and operation of commercial enterprises, maintenance of commercial books, rights and liabilities of merchants, resolution of commercial disputes, and commercial contracts. Compliance with the Türk Ticaret Kanunu and proper resolution of commercial disputes are crucial in conducting business activities in Türkiye.