New guide helps foreign investors connect with Turkish contract law

Dünya Executive - - BUSINESS -

Anew book, “Turkish Contract Law,” aimed at foreign investors analyzes the general provisions of the Turkish Code of Obligation­s in plain English. Written by Professor Ilhan Helvaci, a member of the Istanbul University Law Faculty, the book cuts through the jargon-filled world of law by using simple wording to explain the most technical and complex parts of contract law in Turkey.

The book introduces readers to the main principles of Turkish contract law and casts light on the obligation­s’ provisions on Turkish contracts. Moreover, to illuminate certain key subjects, Helvaci discusses selected provisions of the Turkish Civil Code, the Turkish Commercial Code and the Turkish Bankruptcy and Enforcemen­t Law. In- tended to provide a comprehens­ive and clear overview of Turkish contract law, the book seeks to avoid contentiou­s arguments and explains the subjects with the help of simple examples.

Helvaci, who is also a visiting scholar at Faculty of Law, University of Oxford, hopes the book will fill a knowledge gap in Turkish contracts law. “This work addresses a wide audience including foreign investors and their attorneys. [Through] this book, the foreign companies that would like to invest in Turkey will access the main principles of Turkish contracts law. Turkish lawyers providing legal consultanc­y services to foreign investors will also benefit from this work,” he stated in the book’s promotiona­l material.

The book consists of 34 chapters under five main subject headings. Since the Turkish Code of Obligation­s was adopted from the Swiss Code of Obligation­s, Helvacı indicated that he has also drawn from French and German sources alongside those in Turkish.

Helvaci believes “Turkish Contract Law” will especially cast light on legal issues around internatio­nal, transactio­nal and foreign litigation and arbitratio­n. “Foreign investors would like to know their rights and particular­ly their enforcemen­t opportunit­ies to execute when the other party does not perform its obligation­s (penalty, withdrawal, terminatio­n, pecuniary damages, etc),’’ he said.

“Similarly, they would like to learn the provisions of Turkish Code of Obligation­s on assignment of claims, assumption of debts and securities that guarantee the risks born by the loan and other obligation­al relationsh­ips (surety, mortgage, pledge, letter of guarantee, etc). Indeed, this book will answer [these kinds] of questions for foreign investors.’’

“Turkish Contract Law,” which is also available online as an e-book, is published by German Springer, one of the most prominent internatio­nal press houses in the field of law.

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