SPECHT BÖHM attorney, Ceyda Akbal-Schwimann, who is admitted to the Bar in Turkey, has written an article for publication in the Austrian legal journal eastlex on the new Turkish Code of Obligations. The new code has entered into force on 1 July 2012, alongside the new Turkish Commercial Code.

Eastlex, published by Austrian legal publishers MANZ  in Vienna (www.manz.at) specializes on the  law and taxation in Central and Eastern Europe.

The changes introduced by the new Turkish Code of Obligations are  found predominantly in those  areas of law where the inequality of the parties is assumed on social grounds, such as rental contracts, surety, standard form contracts, limitations to contractual and default interest. The article  describes those parts of the Turkish Code of Obligations which apply to contractual relationships with a particular emphasis on:

• sale of movable property,
• rental contracts,
• standard contract terms,
• assignment of contracts,
• assignment of receivables,
• assumption of debt,
• asset and business transfer,
• surety.

For more information, readers may contact Ceyda at .

Download PDF of article in English:  New Turkish Code of Obligations